Archive for Thursday, March 8, 2007

Valuation increases continue

March 8, 2007

As predicted by county and city officials, Eudora's assessed valuation increased from 2006 to 2007, but not by as much as in years past.

The city's assessed valuation climbed only 7.3 percent from last year to this year, according to numbers released by the Douglas County Appraiser's office. In 2006, Eudora's assessed valuation grew by 8.9 percent.

The increase exceeds the county's overall property value for the year (5.02 percent).

"That keeps us right on track for budgeting," Eudora City Administrator Cheryl Beatty said.

The current total valuation for Eudora is $38.4 million. Last year, all city property was valued at $35.6 million.

Individual homeowners will likely see a slight increase in their property again this year.

The overall median property value -- the point at which half the city's properties are valued higher and half valued lower -- went up by $6,000 from last year resulting in a 4.1 percent increase.

For comparison's sake, the jump trails the average home increase in De Soto, which topped out at 4.68 percent.

The median home value in Eudora for 2007 is $146,000.

The city's median singe-family home value rate exceeds predictions by the county last month, which pegged the overall growth closer to 3 percent.

Douglas County residential appraiser August Dettbarn noticed a trend in Eudora over the course of the year.

"The landmass of Eudora really increased this year," Dettbarn said. "The physical size of the town really went up last year."

The use of the annexed land could affect Eudora's overall value, he said.

Any acres that were previously listed at an agricultural value would have been valued at about $200, Dettbarn said. Those same acres if listed at market would be valued closer to $9,000, he said.

"That can account for some of the jump that happened in Eudora," he said.

Eudora USD 491 Superintendent Marty Kobza said the district prepared for the dip.

"The national trend is that the housing market has slowed significantly, and I think we've seen that happen here in Eudora as well," Kobza said. "We're anticipating a resurgence in that."

To be safe, the district constructs its budget on an assumption that the district's overall property evaluation would increase by about 5 percent, Kobza said.

"If that number happens to be at 7 percent, we'll be excited about that because we're using 5 percent as our benchmark right now," Kobza said.

The county mailed 2007 change of value notices Feb. 28. Property owners wanting to appeal their property's value have until 5 p.m. March 30 to request an informal hearing with the appraiser's office.

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