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County appraiser explains valuation changes; commissioners release abatements
Summary
County appraiser Joe Pinnicuff described methodology changes and negotiated adjustments on two commercial properties, including a reduction of one property’s assessed value from about $1,051,000 to $810,000; the board voted to release the abates as presented.
County appraiser Joe Pinnicuff briefed the McPherson County Board of Commissioners on Sept. 16 regarding recent commercial property valuations and recommended releases of two abatement requests.
Pinnicuff described valuation methods — the income approach (relying on reported income and expenses) and an index-based approach — and said the appraiser’s office sometimes opts for an index method rather than ordering a costly individual appraisal. He discussed a Sager hotel property and a Price Bank building where a tenant’s expense allocation affected assessed value. In one example the assessor’s records were reduced from about $1,051,000 to $810,000 after the county accepted evidence showing the tenant’s expenses were being paid by the bank; Pinnicuff said the requested taxpayer valuation of $460,000 had been much lower than department calculations.
After discussion, the board voted to release the abatements (valuations adjusted) for the two properties as recommended by the appraiser.
Pinnicuff said the office prefers to work with property owners to reach agreed valuations because individual fee appraisals can be prohibitively expensive for the county to order every year. The board’s motion to release the abatements carried by voice vote.
