25 Oct Kansas Dept. of Revenue Finalizes 2025 Grain Elevator Guide
Last year, Kansas Grain and Feed Association (KGFA) worked with the Property Valuation Division (PVD) of the Kansas Dept. of Revenue to make certain changes to PVD’s grain elevator valuation guide.
The updated guide for 2025 will be released by the end of the year.
Below are some of the notable updates, which include a few important items that were requested by KGFA and our industry partners:
2025 Grain Elevator Guide: The 2025 guide will include new sales data and updated cost tables from Marshall and Swift. Going forward, these cost tables will be updated every two years.
Worksheets: The updated worksheets allow for automation of data entry.
Sales Data: The new sales data separates out all personal property machinery and equipment and only values real property. Because the data does not “add in” the personal property, PVD indicated that there is no need to pull it back out when looking for comparable sales. PVD indicated that there will be transparency in the abstracts to show both the total sales values and the value of any M&E in the sale.
Depreciation: The guide will increase total depreciation to 95% (from 90% previously).
Functional Obsolescence: The PVD calculation worksheets will now allow for a new Functional Obsolescence override feature to lower the value of bins with reduced functional capacity due to age and condition, where appropriate.
Please review the 2025 guide carefully and reach out to KGFA’s senior vice president and general counsel Randy Stookey by phone (785) 234-0461 or by email (randy@kansasag.org) if you have any questions or concerns.