Committee narrows insurance bill, exempting commercial property from assignment-of-benefits ban Senate Bill 55, which would prohibit assignment of benefits under property and casualty insurance and deem it an unfair or deceptive practice, was amended to exempt commercial property policies; the amendment passed and the bill was moved out of committee as amended.

A Senate committee has amended a controversial insurance bill, ensuring residential policyholders are protected while allowing commercial property owners to maintain their assignment agreements.

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Senate committee narrows bill to exclude buyer-paid intermediary fees from property valuation The Senate Assessment and Taxation Committee amended SB 332 to exclude buyer-paid intermediary premiums, charges, commissions or fees from sale price when counties calculate real property valuation. The committee approved the amendment and passed the bill to the full Senate by voice vote.

A Senate committee has made a controversial move by amending a bill to exclude buyer-paid intermediary fees from property valuations, raising concerns about the true worth of real estate sales.

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Committee hears technical overview of Kansas CIME classification and the 2006 machinery-and-equipment exemption Revisor and Property Valuation Division staff explained the constitutional and statutory framework for classifying commercial and industrial machinery and equipment (CIME), the special retail-when-new depreciation methodology, and the statutory fixture test used when classification is unclear; staff said counties lack comprehensive statewide data (

Kansas officials unveil crucial insights on the classification of commercial and industrial machinery, revealing the complexities behind the 2006 exemption and its impact on property valuation.

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#KS #CitizenPortal #PropertyClassification #KansasProperty #StatutoryExemptions

Riley County Appraiser Clarifies Tax Valuation Misunderstandings and Exemption Impacts Riley County appraiser explains property valuations and their relation to tax burdens.

Riley County's recent property tax exemption victory could change the financial landscape for local homeowners amidst rising tax concerns.

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#KS #CommunityEducation #CitizenPortal #PropertyValuation #TaxTransparency #KansasProperty