On May 22, the King County Assessor’s Office mailed the 2014 property valuations to all residential property owners in Area 14 (Madison Park/Leschi). Area 14 residential property values increased by 12.1 percent.
The King County Assessor’s Office annually revalues all properties and conducts a physical inspection on each property once every six years. The next physical inspection of the Madison Park/Leschi area will be conducted in 2015.
The Assessor’s Office will continue to mail out more than 600,000 residential and commercial valuation notices to taxpayers throughout the rest of King County between May and October.
Residential property is assessed each year at 100 percent of its true-and-fair market value in money, which is defined by Washington state law as the amount of money that a willing and unobligated buyer is willing to pay a willing and unobligated seller. Residential values are determined based on multiple sales of similar properties.
All property owners should carefully review the information contained in the valuation notice. If a mistake has been made in valuing your property, contact the Assessor’s Office directly at (206) 296-7300 or assessor.info@kingcountygov before filing an appeal.
Property owners can review their property information online using eReal Property and review Area Reports on the Assessor’s homepage at www.kingcounty.gov/assessor or with the Assessor’s staff to make sure an error has not been made. King County allows 60 days from the valuation’s postmark date to file an appeal with the King County Board of Equalizations.
Some low-income seniors, disabled veterans or disabled persons retired because of a disability might be eligible for a property-tax deferral or exemption. To determine eligibility, contact the King County Assessor’s Office.
For King County taxpayers who need advice and assistance on property tax-related matters, including appeals, contact the King County Tax Advisor at (206) 477-1060 or by email at firstname.lastname@example.org.