A valuation change notice ("Notice of Value") is sent to each taxpayer in the county whose market value has changed. If your market property value did not change you will not receive a valuation change notice.
How to Read your Valuation Change Notice
1. Market Value
Market value, also called appraised value, shows the full market valuation of the property. In Washington State, Assessors are required to assess property at 100% of market value, unless a specific exception applies. This area shows the current year’s market value as well as the previous year’s market value. For example, if this is the valuation change notice for 2020, the previous market value will show what the market value was from the valuation change notice from 2019.
2. Frozen Value
If you are in the senior citizen and disabled persons exemption program then all or a portion of your property will have a frozen value based on the market value of the year you were eligible for the program.
3. Current Use
If you are in one of the current use or designated forest land programs then you will have values in this section.
4. Taxable Value
This is the value that is used in the calculation of property taxes. Your taxable value will be the same as full market value unless one of the other conditions above applies. An increase in value does not necessarily mean an increase in property tax. See the levies and property taxes page to learn more.