What is an assessment increase?

An assessment increase is a change in the assessed value of a property, meaning the amount of money the property is valued at. In Washington, property tax is based on the assessed value of a property. Therefore, an assessment increase would result in an increase in the property tax owed. In Washington, an assessment increase occurs when the local county assessor evaluates the current market value of the property and determines that the assessed value needs to be raised or lowered. An assessment increase is also initiated if any improvements or renovations are made to the property that increase the value. The assessment increase affects the amount of money the homeowner will owe in taxes throughout the year. The higher the assessed value, the more tax the homeowner will need to pay. Homeowners with an assessment increase will receive a notice from the county assessor with the new assessed value and the tax amount for the following year. If a homeowner believes their assessment is too high, they may contest the evaluation in writing or in court. It is important to note that an assessment increase is not a tax increase but rather a change in the assessed value of a property. The assessment increase is used to calculate the amount of taxes owed on the property, not the amount of the increase itself.

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What is an assessment increase?

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