Why big increase in assessed value?

[Markor]

A house I'm tracking increased 15% in assessed value from 2008 to 2009 tax year, according to KC records. Not fallen ~15%, as sales prices have during that time, in the same area for similar properties. Is 2010 the year when decreases will be seen in KC records, or is this house just special? I thought I saw others reporting decreases in assessed value, finally.

Edit to add: On KC FAQ I see "Keep in mind that [2009]'s Official Value Notice is developed from information about sales that closed during 2005, 2006 and 2007. The sales you see in your neighborhood this summer will be considered next year and the year after." Didn't realize they lagged by a whole 2 years. Still, haven't others noticed decreases?

[faster]

The house I'm renting in 98008 just got it's value assessed at about 18% less - came in the mail last week.

[Markor]

Good to know, thanks. That's for the 2010 tax year?

[vermillionsky]

I'm watching a house in Edmonds. The Snohomish county property records site says the pending 2010 property value is 22% lower than the 2009 value, which is 2% higher than the 2008 value. I checked the houses nearby and they all seem to be decreasing a similar amount.

[davidlosh@davidlosh.com]

[faster]

[faster]

[davidlosh@davidlosh.com]

BTW our assessment came in yesterday and is lower.

[Markor]

The 2010 tax year assessment for the house I mentioned in the OP came in ~8% lower than the 2009 value.

[Markor]

The differences between land and improvement values are interesting. One house is typical for the area: since the 2007 assessment the land value has increased every year, up 34% total, up 6% from 2009, whereas the improvement value has fallen 25% total, down 45% from 2009.