Kansas Dept. of Revenue releases 2021 Grain Elevator Valuation Guide


Kansas Dept. of Revenue releases 2021 Grain Elevator Valuation Guide

Kansas Department of Revenue has released its 2021 Grain Elevator Valuation Guide. Both the guide and a new valuation template have been updated and are available for use via the buttons to the right.

If you have any questions or concerns regarding the guide, please contact Randy Stookey (randy@kansasag.org | 785.234.0461).

The following is a brief summary of the 2021 changes, all of which are explained in the guide.

  • All 2009 sales and the three lowest and three highest of the 2010 sales were dropped from the analysis. A total of 10 new sales were added to the guide, two in the east and eight in the west.
  • The economic lives were changed to 60 years on all licensed grain storage structures. This is consistent with Marshall Swift recommended lives.
  • The deprecation maximum was set to 90 percent for all licensed grain storage structures regardless of construction type. 
  • All of the sale abstractions were reviewed and external obsolescence was reworked in the depreciation equation. In addition to this change, it was discovered when reviewing the abstractions that machinery and equipment values were omitted from the original abstractions so this is now included in the RCN.
  • An external obsolescence line item was added to the cost worksheet template so there is now a line for physical/functional and external.
  • The quick ref ID was added to the template in addition to the parcel ID number.