EVERETT — Home and commercial property values ticked up a total 4.5% last year, according to the Snohomish County Assessor’s Office.
The county’s 2023 real estate market showed a steady increase in residential sale prices while the commercial property market remained relatively flat.
Countywide, assessed valuations rose 4.49% for residential properties and commercial property valuations rose 1.34%.
The assessor’s office is mailing 2024 property tax statements this month.
Totals are calculated using a property’s value as of Jan. 1 and its address’ levy rate, which depends on the taxing district boundaries the home falls within.
“The question we are tasked with answering is: What could you have sold your property for on January 1, 2024?” the assessor’s office wrote in a press release.
The rate levied by each of those districts, including ones that fund schools and fire departments, is recalculated annually after the districts update their budgets for the upcoming year, the assessor said.
After steadily increasing for years, January assessed home values in Snohomish County skyrocketed by 32.1% in 2022, then nose-dived back to Earth by decreasing 6.6% in 2023. This year’s increase suggests a swing back to a more normal upward trend.
The new Jan. 1, 2024, assessed values, as well as sales used to establish assessments for the past three years, are available on the assessor’s website at: snohomishcountywa.gov/Assessor
Appraisers will spend the next few months adding new construction to the assessment rolls, so some property owners will receive a new notice of assessed value in the fall for new construction added this year.
Property owners with questions or concerns about their new assessed values can call the assessor’s office and talk to an appraiser before filing an appeal with the Board of Equalization, as many concerns or issues can be resolved without taking that action, the agency said.
• Residential Appraisal may be contacted at: 425-388-6555.
• Commercial Appraisal may be contacted at: 425-388-3390.
• To check for accuracy of their property characteristics on the assessor’s website go to: snohomishcountywa.gov/5167/Assessor
• To check sales in area go to: snohomishcountywa.gov/404/Popular-Interactive-Tools
• To check current and past levy rates and amounts by taxing district go to: snohomishcountywa.gov/2208/Annual-Reports
• To file an appeal with the Board of Equalization go to: snohomishcountywa.gov/134/Board-of-Equalization
Janice Podsada: 425-339-3097; jpodsada@heraldnet.com; Twitter: @JanicePods.
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