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By January 1, 2014, all Washington counties must revalue real
property every year.
Substitute Senate Bill 5368, passed by the House and Senate
in April, also requires a physical inspection of all properties
at least once every 6 years.
Previously, the
schedule varied from annual revaluations in King and Snohomish
Counties to revals every 4-5 years in other counties. However,
even when valuations were conducted every year, they were not
based on individual properties; they were cluster valuations.
Thus, definitions were loosely interpreted. For example,
counties were required to “see” properties but due to staff
limitations, it was often only a drive-by inspection.
While annual revaluations statewide will help eliminate the
sticker shock that comes with less frequent revaluations, the
change also has a down side. It creates more opportunities for
assessors to raise values instead of just rolling them over in
appreciating markets. In down markets, roll-over values are
typically appealed, so that is not an issue.
The Department of Revenue will conduct a pilot project this year
in at least one county to develop the expertise necessary to
make the conversion. The DOR will also operate a grant program
to replace counties’ outdated computer systems and provide them
with the guidance and training needed to conduct annual
revaluations.
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