Same; definitions

79-1486. Same; definitions. As used in this act: (a) "Sale" or "sales" shall include all transfers of real estate for which a real estate sales validation questionnaire is required by K.S.A. 79-1437c, and amendments thereto; however, all sales for which a real estate sales validation questionnaire is required by K.S.A. 79-1437c, and amendments thereto, need not be included in the final ratios determined; (b) "valid sale" is a sale that is an indicator of fair market value as defined in K.S.A. 79-503a, and amendments thereto; (c) "invalid sale" is a sale that is not an indicator of fair market value as defined in K.S.A. 79-503a, and amendments thereto; (d) "unvalidated sale" is a residential subclass sale that was not selected through a random sampling process and has not been determined to be either a valid sale or an invalid sale; (e) "real estate" shall include land, improvements and structures which are appraised as real property; (f) "director" shall mean the director of property valuation; (g) "classification" shall mean those classifications which apply to real property contained in K.S.A. 79-1439, and amendments thereto, or any stratification which may be prescribed by the director; (h) "average" shall mean that measure or measures of central tendency which the director shall determine best describes a group of individual ratios; (i) "ratio" shall mean the numerical relationship between the appraised or assessed value and the selling price; and (j) "study year" shall mean that twelve-month period beginning annually on January 1. History: L. 1992, ch. 131, § 2; L. 1994, ch. 275, § 9; July 1. Previous | Next LEGISLATIVE COORDINATING COUNCIL General Policies 2026 Archived LCC Documents Archived LCC Meetings REVISOR OF STATUTES Archived Session Documents Archived School Finance Documents USEFUL LINKS Session Laws Kansas Administrative Regulations OTHER LEGISLATIVE SITES Kansas Legislature Administrative Services Division of Post Audit Research Department Contact Us PDF Help www.ksrevisor.gov 2026