Change of Value Notices

Change of Value Notice
What does “Market Value” mean?
Impact of the Real Estate Market
Disagree with the Value?

Change of Value Notices were mailed on September 4th, 2018

A Change of Value Notice informs the property owner of the appraised value, property description and if the property qualifies of tax deferrals or tax reductions.

If your appraised property value did NOT change, you will NOT receive a Change of Value Notice.

How to Read your Change of Value Notice

Box 1:

Box 1 represents the previous and new market valuation of your property. This is called your "appraised value". In Washington state, the Assessor is required to assess at 100% of the market value.

Box 2:

If you have amounts in Box 2, this means that you are in the Current Use or Designated Forest Land Programs. The property owners in these programs agree to defer the payment of taxes in exchange for using the land for farming, natural preserve, managed forestry, etc. In most cases, the "Total" amount in Box 2 is your the total base for taxes (assessed value).

Box 3a:

If you have amounts in Boxes 3a and 3b, this means that you are in the Senior Citizens and Disabled Persons Program. This tax relief program is income-based and is a tax-shift to other members of the community.

The Taxable In-Program amount is the lesser of the market value (Box 1) and your "frozen" (capped) value. If you have more than 5 acres, business-use of your home or a rental on your property, you will have an amount in Taxable Non-Program. The Taxable Non-Program amount reflects the market value and is not part of the tax relief program.

Box 3b:

As part of the Senior Citizens and Disabled Persons Program, your taxes are reduced based on your level of income (Tiers 1, 2 or 3). The amount of value reduction is presented in Box 3b.

Total Base for Real Property Taxes (Assessed Value):

The amount that appears in this box is your assessed value and is one of the elements used to calculate your 2019 tax amount.

Change of Value Notices