Notices of assessed value going out this week

[Chief]

http://www.dailyinsider.info/today.html

Notices of property values are being mailed out to approximately 140,000 residential, multifamily and condominium owners this week, reports Clark County assessor Linda Franklin.

The 2007 assessed values, which will be used to calculate 2008 property taxes, are based on sales of homes and properties with similar characteristics and conditions during 2006.

Each year, sales data from throughout the county is collected, analyzed and used to bring all assessments to full market value.

Franklin says that the notice of assessed value also provide information on how a property owner can question the value of his or her property.

Sales information is available by going to www.clark.wa.gov/assessor. For further information, call 397-2301.


Here it comes...

[Chief]

I just checked at the County Assessor's website, and the new values are available online through the Property Information system.

Interestingly, here is my data...

Land Value $105,000.00
Building Value $194,400.00
Total Property $299,400.00
Re-valuation Cycle 5
Assessor Neighborhood 116
2007 Values for 2008 Taxes
(Revaluation notices will be mailed Friday Nov. 16th)


I have yet to do a complete analysis of this (and I will) but while the value of our lot went up again, a whopping 23%, (if memory serves, our lot was worth $85K last year) the value of the house was cut significantly, enough that the entire assessment is down by 5% from last year.

Of course there is no more justifcation provided for this cut in assessed value than there was for the ourtageous increases over the past five years...

Keep in mind that this has nothing to do with what the taxes actually are, and it will be February before we find out the actual rates. Now that I-747 has been shot down in flames, I fear for what may be coming. Despite the requests from linda Franklin for municipalities in Clark County to stick to the 1% limit, the City of Vancouver has already passed a resolution promising a 3.38% increase in their rate as soon as the WSSC ruled.

Developing....

[Chief]

Curiouser and curiouser....

Current land value: $ 81,175.50
Proposed 2008 value: $105,000.00
Percent change: +29.35%


Current building value: $233,824.50
Proposed bldg. value: $194,400.00
Percent Change: -16.86%

Total current assessment: $315,000.00
Total proposed Assessment: $299,400.00
Percent change: -4.94%



I find absolutely no rhyme or reason to this whatsoever. I think we'll appeal this on princilple, and make them show me how they came up with this "calculation".

[karma]

Thanks Chief!! I can't wait????

[Chief]

I'm hoping to hear from our good friend tefen an this one, to see how bad they are going to get him, and to compare the cost of his lot since it sound similar in size to mine...

[Waterbuffalo]

Wonder who wins "Property tax" lottery this year?

Not sure who is going to, but it probably come across some time into the future.

[Chief]

It's anyone's guess where taxes will land this time. Don Benton has an OpEd this morning, crying for a special session to address this befoe the end of the Month.

Nice idea, but where the hell has Don been on this until now? Ity sure looks like way too little, and way too late at this point, and despite the calls from the Governor and the Assessor for lovalities to stick to the 1% limit, the only agency I know of in the State to make that committment is the much-reviled Port of Vancouver, and was announced as policy last tuesday by ougoing Commissioner Arch Miller.

Just sayin'...

[karma]

What do you bet it won't be within the 1%? Growth has caused such a problem there is no way!! Singing those Orange County blues!

[Chief]

The Port has stated that they will honor the 1% limit, and that is the only agency I know of who has made such a pledge, anywhere in the State.

I read somewhere that the County could go, and feels it could justify as much as a 6% increase, although nobody that i am aware of is suggesting such a thing.

I do believe a whole lot of politicians, starting with the governor, are all of a sudden running scared; very, very scared that once the floodgates are opened, there will be no stopping the flood of tax increases, all in a Presidential Election Year with the Democrats in power and the White House up for grabs.

Figure the odds that someone is gonna get screwed, and screwed big in Olympia over this before the screaming subsides...

[karma]

If the county goes 6% I think they would be finding different jobs come election time?? I think they need to stop and think about this one as the voters this last election was sending the message loud and clear! I thank Linda Franklin for her words of wisdom.

[Chief]

We'll see what happens between now and February, which I think is when the rates must be set...

[Chief]

Given that we property owners just got our new assessments, I think we need to run some numbers and see exactly what a 6% cap, or target to be more accurate, would mean.

Here is the proposed reassessment for my home, for tax purposes in 2008. You willnotice that my totall assessed value decreased almost 5%.

Current land value: $ 81,175.50
Proposed 2008 value: $105,000.00
Percent change: +29.35%


Current building value: $233,824.50
Proposed bldg. value: $194,400.00
Percent Change: -16.86%

Total current assessment: $315,000.00
Total proposed Assessment: $299,400.00
Percent change: -4.94%



Good news so far, right? Here are the tax millage rates that account for my total property tax bill right now. For clarity, I have omitted the zero amounts.


Taxing District Tax Rate Amount
State School 2.17899 686.38
County 1.22492 385.86
Local School 4.15693 1309.43
City 2.44687 770.76
Port .33713 106.20
Library .35747 112.60


Total 10.70231 $3,371.23

With me so far?

Now, here are those same millage rates, adjusted to demonstrate what an across the board 6% max cap would look like if enacted across the board, and based on my present assessed value.


Taxing District Tax Rate Amount
State School 2.310 727.65
County 1.29842 409.00
Local School 4.40634 1387.99
City 2.59368 817.01
Port .35735 112.57
Library .37892 119.36


Total 13.9411 $4,391.43

Total change in taxes from 2007: +$1020.20 That is a total 130.26 % increase in the net tax bill. A real one this time.

Now, here is that same set of numbers, using the assessed value as proposed by the Assessor's Office, for 2008...a multiplier of 299.4, a five percent cut in the value...



Taxing District Tax Rate Amount
State School 2.310 691.61
County 1.29842 388.75
Local School 4.40634 1319.26
City 2.59368 776.55
Port .35735 106.99
Library .37892 113.45


Total 13.9411 $4173.97

Total change in net taxes from 2007: +802.74

What a deal. That is only a 23.81% increase in our net tax bill this time with a new, lower assessment, and including Craig Pridemore's new 6% ceiling for tax increases.

What we have seen since I-747 went into effect, is localities increasing taxes every year by no less than 1%. Why should I assume that taxes will go up less than Pridemore's 6%?? I think I can say confidently that is exactly what localities will do. the city of Vancouver always resolves to "raise taxes by the maximum amount allowed under the Law".

Someone needs to get CP by the nape of the neck, and read him the riot act over this exact issue. The overly simplistic and refreshing bromides out of the Governor's office about the special session upcoming, does not take into account the intentions of uber-liberal Senators like Pridemore and many of the local Democrats who have no intention of restraining themselves to the 1% limit.

[karma]

$37,000 increase here and we did nothing to the place in Jan. when they figured this???

[Chief]

I checked with the adjoining properties here on my street, and they jacked everyone's property values up to the same price, while adjusting the prices of the buildings downward.

I think there is little use in appealing theis because I think there is insufficient grounds, and I don't think It would serve any purpose to do so. There is still little rhyme or reason to the way these things get done, and we are still at the mercy of legislators like Craig Pridemore on this...

[Waterbuffalo]

Didn't you see Senator Pridemore ponder on the effects of lead in his electronics and global warming effects on his body?

Sorry Chief, Tefen and Karma, maybe you can join me in the soup line if things keep continuing?

[Chief]

Or Columbia County.

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