What is individual personal property value?
Many Personal Property assets belonging to individuals are valued from market data using appraisal guides and state and regional market sources. This market data is then used to establish the current value of a particular asset. Typically, this value will be based on current trade-in values according to the age of the asset and market condition. Automobiles, light trucks and motorcycles are classed separately by the State of Kansas. Who must list personal property? According to Kansas Statute: K.S.A. 79-303: “Every person, association, company or corporation who shall own or hold, subject to his or her control, any tangible personal property shall list said property for assessment.” K.S.A. 79-301: “All tangible personal property subject to taxation shall be listed and assessed as of the first day of January of each year in the name of the owner thereof.” Remember: It is your responsibility to file this information with the County Appraiser’s Office. If you own any tangible personal pro
