Property values are up as much as 21.2 percent in parts of Kent, SeaTac and Des Moines as the King County Assessor’s Office has begun the annual process of mailing valuation notices to more 700,000 property owners in the county.
Notices will continue arriving to property owners through September.
In most areas of the county, property values are up again this year. Higher valuations, however, do not necessarily translate into higher property taxes, said Assessor John Wilson.
“Most people don’t realize that the fluctuating value of your property has less to do with changes in your tax bill than do measures approved by voters,” Wilson said in a media release. “Decisions made by voters, in terms of approving special levies; and by elected officials in terms of adopting budgets, determine the total amount of tax to be collected in your area; the value of your property determines your share of that total amount.”
Wilson continues to encourage property owners to sign up to receive their annual property valuation notice via email instead of through the USPS. This electronic valuation notice program is convenient for property owners, will save money for the Department of Assessments, and is environmentally friendly.
To sign up, go to kingcounty.gov/assessor and click on the Go Paperless window for details. Paperless notifications saves taxpayer dollars in staff time, materials and postage.
Property owners who believe their assessment may be incorrect, can appeal to the Board of Equalization (BOE). This must be done within 60 days of receipt of the 2017 valuation notice. Details are available at kingcounty.gov/assessor the BOE at http://www.kingcounty.gov/independent/board-of-appeals/about.aspx.
State law requires each county assessor to revalue property annually, and to conduct an on-site physical inspection of each property at least once every six years. Property values are determined by certified appraisers who assess property based on comparable sales, various attributes of a particular property, and/or income generated by the property.
Wilson also wants people to know that appraisers are in neighborhoods and walking onto properties to complete the valuation process.
Because of the hot real estate market, some of the property assessment hikes for 2017 include:
• Rainier Valley / Beacon Hill – 19.3%
• Boulevard Park / White Center – 18.6%
• Auburn – 13.4%
• Kentridge – 17%
• Ravenna / U Dist. – 11.7%
• Newcastle – 15.4%
• Issaquah – 11.7%
• Downtown Bellevue – 19%
• Snoqualmie / North Bend – 16%
• Algona / Pacific – 13.1%
• Des Moines / SeaTac / Kent – 21.2%
• Vashon Island – 16.9%
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