Kansas State Capitol loses half of appraised value

Colter Robinson
·2 min read

TOPEKA (KSNT) – Shawnee County appraisers have trimmed the value of the State Capitol Building in downtown Topeka in half.

In 2023, the Capitol Building was appraised by the county at $118.3 million. But in 2024, the appraised value was almost cut in half to $61.1 million. While the value of the land remained the same, the appraised value of the building fell over $50 million.

The last time the Capitol Building was appraised under $100 million was in 2021 when the Capitol was appraised at $98.7 million. The year prior, in 2021, the building was appraised at $45.7 million.

Shawnee County Appraiser Steve Bauman said the use listing was changed from an office to a government building in 2021. The change drastically increased the value estimate.

“We feel that the current deprecation factors give a more appropriate indication of value so the value was reduced back down,” Bauman said.

Last year, the Capitol was the third most expensive property in Shawnee County. After the reappraisal, the building is now the fifth most expensive property, beating the Target Distribution Center in the sixth spot. The next most expensive property is now the Mars factory with an appraised value of $80.6 million. The most expensive property in the county remains the Walmart Distribution Center with a combined appraised value of more than $200 million.

Most expensive properties in Shawnee County

“In reviewing the property value for the Capitol this year, it was determined that the depreciation factors in place were not adequately reflecting the age, size, and superadequacy of the property,” Bauman said. “Even though the Capitol is exempt from paying taxes and will probably never sell, the adjustment was made to try and better reflect the market value.”

The last Capitol Building renovation project was started in 1999 and was completed in 2014 at a cost of $325 million, according to The Associated Press.

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