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Residential valuation notices mailed to West Hill Auburn property owners
For the Reporter
King County Assessor Lloyd Hara's office mailed 2014 property valuations to all residential property owners in Area 27 – West Hill Auburn in Southwest King County on June 12.
Area 27 residential property values generally increased by 23.7 percent, but individual property values might vary. The Assessor's Office will continue to mail out more than 600,000 residential and commercial valuation notices to taxpayers throughout the rest of King County between June and October.
Residential property is assessed each year at 100 percent of its true and fair market value in money, which is defined by Washington State law as the amount of money that a willing and unobligated buyer is willing to pay a willing and unobligated seller. Residential values are determined based on multiple sales of similar properties.
The King County Assessor's Office annually revalues all properties and conducts a physical inspection on each property once every six years. The last physical inspection of the West Hill Auburn area was conducted in 2012.
"Continuing the 2013 trend, property values are increasing across King County as we emerge from the Great Recession," Hara said. "In 2013, we saw a residential increase in 76 out of 86 residential areas in King County and we expect to see continued growth in residential values for 2014."
Hara would like to remind all property owners to carefully review the information contained in the valuation notice. If you feel a mistake has been made in valuing your property, it is recommended that you contact the Assessor's Office directly before filing an appeal at 206-296-7300 or assessor.info@kingcountygov.
Property owners can review their property information online using eReal Property and review our Area Reports on the Assessor's homepage at www.kingcounty.gov/assessor or with the Assessor's staff to make sure an error has not been made. King County allows 60 days from the valuation's postmark date to file an appeal with the King County Board of Equalizations.