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Island County land values drop about 10 percent
Property tax valuation notices will be mailed to all Island County residential property owners on Aug. 1, reports Island County Assessor Mary Engle, and most people will notice their property is worth less.
“It is always hard to predict overall averages as some neighborhoods hold their values and some don’t,” Engle said. “Having said that, generally waterfront land is holding its value countywide. Generally land took a drop in value on the average of 10 percent except in towns.
These notices will provide taxpayers with the Assessor’s opinion of value on residential properties. This value represents market value as of Jan. 1, 2012, based on market evidence from sales occurring in 2011.
Commercial properties will be mailed value notices in mid August along with new construction value notices.
Engle encourages taxpayers to call the Assessor’s Office with any concerns or questions about their property values. “Appraisers are happy to talk with you about how they established the market value of your property,” she said. To reach the appraiser assigned to your area call 679-7303 Monday through Thursday from 9 a.m. to 4 p.m.
Engle added that taxpayers have 30 days from the date of mailing listed on the notice to appeal their property value with the local board of equalization. Appeal information will be on the mailing notice and on the Assessor’s website.
“For more information, don’t hesitate to contact us,” Engle said.