| The latest annual revaluation of Kitsap County properties shows that our area’s hot real estate market is cooling off slightly. “While most property owners have seen their assessed value increase by greater than 20 percent in each of the last two years, this year’s increase will typically be in the 8–11 percent range,” Kitsap County Assessor Jim Avery said. Avery added “that over 5000 real estate sales from 2006 were used in the analysis,” which can be viewed by neighborhood at www.kitsapgov.com/assr.
Over 91,000 Kitsap County property owners were recently mailed a change of value notice, which may also be individually viewed on the Kitsap County website at www.kitsapgov.com. At the bottom of the main page under “Quick Links,” click “parcel search,” enter an address or account number, go to assessor data, then value history.
“Property owners will see a much larger increase in their land values as opposed to their building or improvement values this year,” Avery said. The larger than normal increase to land value is caused by two main factors: a huge countywide run-up in the cost of vacant land over the past 2-3 years, making it hard to find a building site for under $100,000; and the expansion of county urban growth areas when the updated county comprehensive plan was approved last December, rezoning 7227 acres allowing for higher density development including commercial use.
Since all taxing districts are limited to a 1 percent annual increase to their levies, taxpayers with value increases in the typical 8-11 percent range can expect to see little change in their 2008 tax bill unless they live in the Poulsbo Fire district, where voters in that district approved a 46 percent increase earlier this year.
Property owners are encouraged to call the assessor customer service line at (360) 337-7160, especially if they feel that the reported total value exceeds what the property would sell for.
Commercial properties and properties with new construction will receive change of value notices later this summer. |
