How is assessed value determined in Washington state?
State law requires that assessors appraise property at 100 percent of its true and fair market value in money, according to the highest and best use of the property. Fair market value, or true value, is the amount of money that a willing and unobligated buyer is willing to pay a willing and unobligated seller.
What does the Kitsap County Assessor do?
The role of the Assessor’s office is to establish a value for all real & personal property for tax purposes and to maintain real and personal property records as required by RCW 84.40. 030. The Assessor is required by law to set value at 100% of market value and to assure that all values are in equalization.
What is the property tax in Kitsap County?
0.98%
Washington State Property Tax Rates
| County | Median Home Value | Average Effective Property Tax Rate |
|---|---|---|
| Jefferson | $311,100 | 0.82% |
| King | $493,500 | 0.93% |
| Kitsap | $299,600 | 0.98% |
| Kittitas | $275,000 | 0.81% |
Can a tax assessor enter my property in Washington?
Yes, the County Assessor does have the legal authority to access your property in order to make an inspection for valuation in accordance with Washington State Law.
What is assessed home value?
The assessed value is a property’s determined valuation to calculate the appropriate tax rates. An assessment considers sales of similar homes, as well as home inspection findings, in its final determinations. When it comes to selling a home, the assessed value is the most widely accepted dollar value of your home.
How do I pay my property taxes in Kitsap County?
- Pay Online: Point and Pay offers customers the ability to pay with an electronic check or a debit/credit card (Visa, MasterCard, Discover, or American Express.)
- Pay By Mail: Kitsap County Treasurer.
- Pay By Phone: Automated Service.
- Pay in Person: Kitsap County Administration Building.
How does the assessor of Kitsap County Washington work?
The Assessor is required by law to assess all taxable property at 100% of market value. These values are used to calculate and set levy rates for the various taxing districts in the county, and to equitably distribute tax responsibility among taxpayers. The Assessor’s office appraises property both by physical inspection and by market activity.
Are there any tax exemptions in Kitsap County?
Kitsap County provides taxpayers exemptions which may lower the property’s tax bill. These are deducted from the assessed value to give the property’s taxable value. We have no information about whether any exemptions currently apply to this property. Therefore, the taxable value will be equal to the assessed value.
How is market value determined in Kitsap County?
The Kitsap County Department of Assessment establishes the true market value, also known as market value, for all taxable real properties within the county. Market value has been defined by The Supreme Court as the sale price of real estate as agreed upon between a willing buyer and willing seller, with neither being under duress to buy or sell.
How does a tax assessor determine a property’s value?
In order to determine the tax bill, your local tax assessor’s office takes into account the property’s assessed value, the current assessment rate, as well as any tax exemptions or abatements for that property.