County property values fall for some in new assessments

Annual assessment notices from Snohomish County show another dip in property values, though less than in recent years.

The average drop for 2012 home values, including condos, was 7.8 percent. Commercial properties decreased much less, by only about a half-percentage point.

Those decreases translate into a nearly $4.8 billion loss in assessed value of property countywide compared to the same time last year. The addition of new construction this summer is likely to offset that drop somewhat.

The latest assessed values reflect the 2011 housing market and will be used to calculate property taxes owed in 2013. Lower property values don’t necessarily translate into lower taxes because of Washington’s budget-based taxing system.

The new assessment notices are due to reach residential property owners by mail this week. Commercial property owners can expect their notices to arrive next week, after they hit the mail on Monday.

Anybody who disagrees with their assessed value has 60 days from the notice’s mailing date to appeal. Next year’s tax notices, which are expected to be mailed in February, will factor in any new levies that voters pass this year.

Snohomish County in 2012 saw the smallest drop in assessed home values since 2008, when the decrease averaged just 1.9 percent. The decline was 12.7 percent in 2011, 9.7 percent in 2010 and 11.6 percent in 2009.

More info: Call 425-388-3433, visit http://assessor.snoco.org or go in person to the Assessor’s Office customer service desks at 3000 Rockefeller Ave., Everett.

Noah Haglund: 425-339-3465, nhaglund@heraldnet.com.

More in Local News

Man, 29, injured by shots fired at Everett thrift store

The gunfire followed an argument in the parking lot of Value Village on Evergreen Way.

Inslee’s budget solves school funding with help from carbon

His budget would use reserves to boost education, then replenish them with a carbon tax or fee.

Police: He made an appointment, then tried to rob the bank

A lawyer is accused of donning a fake beard and telling a teller that a gunman was outside.

Drive-by shooting reported in Marysville neighborhood

Police said there was no evidence to indicate it was targeted at a specific person or property.

Celebrating the origins of Christmas

LDS church holds annual nativity festival featuring more than 600 sets.

Trooper’s car struck when he was arresting man for DUI

She drove away but was arrested for investigation of driving under the influence and hit-and-run.

Police looking for leads in case of missing Snohomish man

Henry John Groeneveld, 63, was last seen on Monday, when he said something about going to “the river.”

Lynnwood robbery leads to lockdown at Edmonds schools

Edmonds police said it was just a precaution as they search around Edmonds-Woodway High School.

Marysville 7-Eleven hit by armed robbers

Officers set up a perimeter and brought in a police dog, but the man couldn’t be found.

Most Read