The down real estate market hasn’t stopped the King County Assessor from increasing the assessed value of many homes which means higher property taxes will follow for those homeowners
The new King County assessments represent the assessor’s opinion of the market value of your home as of January 1st, 2010. These new assessments are mailed out one or two neighborhoods at a time over the course of the summer so most neighborhoods haven’t been released so far.
Of those King County neighborhoods that have been released so far, the average assessed property value has only gone down by 2.2% percent since last year. Unfortunately, most homeowners would admit the market value of their home has decreased much more than that. If your home's assessed value is more than what you think you could sell it for today, you're most likley paying an unfair share of property taxes.
Did the assessed value of your home gone up from January 1st, 2009 to January 1st, 2010? If you think the market value of your home has gone down in the last year, did the assessed value decrease by enough?
| Neighborhood |
Average County Assessed Value 2010 |
% Change In Value Since Last Year |
% Of Homes
Overassessed
|
| Lake Sammamish |
$703,533 |
4.2% |
10.1% |
| Eastern West Seattle |
$260,192 |
1.9% |
17.9% |
| Fauntleroy |
$416,240 |
1.8% |
28.3% |
| Black Diamond/E. Maple Valley (Part 2) |
$175,032 |
1.0% |
0% |
| Lake Hills/Robinswood |
$382,264 |
0.4% |
6.1% |
| Hollywood Hills Redmond |
$478,316 |
0.4% |
6.6% |
| Central Sammamish Plateau |
$503,471 |
0.1% |
5.6% |
| Duvall/Snoqualamie Valley |
$361,625 |
-0.8% |
3.5% |
| Crossroads |
$427,373 |
-0.8% |
10.1% |
| Boulevard/Riverton |
$218,159 |
-1.2% |
15.9% |
| Kirkland |
$589,493 |
-1.8% |
11.3% |
| Rose Hill |
$395,470 |
-2.3% |
7.8% |
| Central Bellevue |
$506,550 |
-3.2% |
8.7% |
| E Woodinville/Bear Creek |
$592,456 |
-4.6% |
3.3% |
| Snoqualmie and North Bend |
$327,714 |
-5.2% |
1.2% |
| Woodinville/Cottage Lake |
$462,528 |
-5.7% |
9.4% |
| Black Diamond/E. Maple Valley (Part 1) |
$327,518 |
-8.0% |
2.0% |
| Medina, Hunts Pt, Yarrow Pt |
$1,335,167 |
-16.2% |
9.3%
|
| Other Neighborhoods In King County |
TBD |
TBD |
TBD |
Notice that just because the assessed value of your home went down since last year doesnt' mean it went down by enough to match the market. In Medina assessed values have decreased by 16.2% but 9.3% of Medina homes are STILL overassessed because the values didnt go down enough!
If you live in one of these King County neighborhoods and you’re not sure if you should appeal your property tax assessment or not this year you find out for free here. Check your property
You’ll receive a free instant analysis of whether you should appeal your property tax assessment or not.
If you're wondering if its too late to file an appeal of your property tax assessment you can check our neighborhood by neighborhood guide to King County Appeal Filing Deadlines.
Have you received your assessment notice in the mail yet this year? Did the assessor's proposed value seem fair? Will you file an appeal this year?
