Thursday, June 1, 2017

2017 Property Value Notices Mailed And How To Appeal

The King County Assessor's office released this information: 
2017 Property Valuation Notices Are in the Mail:  Values Continue to Rise Across King County
The King County Assessor’s Office has begun the annual process of mailing valuation notices to over 700,000 property owners. 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,” said Wilson. “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 here and click on the "Go Paperless" window for details.  
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 here.   
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.

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