AGCO Initial Proposal: $2,600,000
County Initial Proposal: $10,978,000
Final Appraisal: $7,500,000
Assessed Value Difference: $850,547
Impact On USD 460: -$52,000
Impact On City: -$27,829.90
Impact County: -$26,748.86
The AGCO valuation and tax dispute has been resolved.
According to County Appraiser Craig Clough, AGCO has accepted the County’s appraisal.
“Both AGCO and County each had separate appraisals completed by appraisers who specialize in complex industrial properties. The appraiser for the County came in at $ 7.5 million on the main large parcel that includes all of the offices and manufacturing. AGCO agreed to the $7.5 million appraisal,” he said.
Clough gave information on the impact the City, School District, County and State the appeal and settlement will have on local taxes.
The resulting reduction in Property Tax estimate…The assessed value (the amount of appraised value Agco pays taxes on) difference is multiplied by each of the entities’ mill levy will show the estimated refund given. The assessed value difference is $850,547.00
“So...the County Mill levy is .031449 multiplied by $850,547.00 comes to $26,748.86. The Hesston City Mill Levy is .032720 multiplied by the $850,547.00 is $27,829.90. And, Hesston School District / Recreation Levy is .061132 multiplied by $850,547.00 equals $51,995.64
“Add these three amounts together and the total is $106,574.40.
“This total listed above does not include the 1.5 mills the State of Kansas charges to fund their portion of education. That amount would be .001500 times
$850,547.00 which equals $1,275.82. This amount added to $106,574.40 comes to $107,850.
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