Riley County officials on Thursday mailed income and expense questionnaires to multifamily, commercial and industrial properties.
The survey is a part of the annual reappraisal process mandated by the state of Kansas. County officials will use the responses in conjunction with data on other similar properties to find typical rents, occupancy and expenses for the particular use type, such as retail, industrial and multi-family structures.
“We are studying trends in the local real estate market regarding rent prices, occupancy and operating expenses, and we respectfully request participation from property owners,” said Riley County appraiser Anna Burson. “The information we gather will be used to calibrate our valuation models. It’s important to note the responses will not be used to value the specific properties providing information.”
All survey responses will remain confidential in accordance with Kansas law and standards of professional appraisal practice.
The surveys also are available on the Riley County website under the appraiser’s office page. Completed questionnaires plus additional documentation are due Sept. 2. The appraiser’s office will accept them by email, fax, mail or in person.
“We also want property owners and managers to know we value their time,” Burson said. “If it’s easier to print out an income and expense report, rent roll or IRS tax statement please simply attach that information to the survey form and return it.”
Those with additional questions can contact the appraiser’s office at 785-537-6310 or at 110 Courthouse Plaza in Manhattan.
