Appealing King County property taxes has become a popular topic of discussion. In fact, the number of homeowners appealing property taxes in King as well as other counties have increased dramatically.
The reason for this is the sharp decline in market value for homes and the delay in how properties are assessed for taxable value. In short, comparable homes sold in 2008 are used to determine property values on January 1st, 2009 for taxes payable in 2010. So those who bought at the height in 2007 or early 2008 caused assessed values for many people to increase. Despite the actual market value decreasing 15% or more.
Below is a great article on the issue and some helpful hints on how to appeal your King or Snohomish County property taxes. If you would like up to date comparables for your house in order to appeal your assessed value...just shoot me an email and I can send them over.
Read the full article here.
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