ANNUAL PROPERTY VALUES SET BY COUNTY ASSESSOR-TREASURER
The annual property values set by county Assessor-treasurer have been mailed.
The values of over 300,000 parcels of property throughout Pierce County have been determined and mailed or emailed the week of Dec 16, 2019 to the property owners, and added to the website. These 2019 values will be used as the basis for property taxes to be billed in February of 2020.
“Residential property continues to increase in value, although the rate of increase has slowed compared to last year,” said Mike Lonergan, Pierce County Assessor-Treasurer. Overall, residential properties went up 7.5 percent this year, compared to 11.8 percent in 2018.
Countywide averages can be misleading, because values increase at varying rates in different communities. “The increase in Tacoma was among the highest at 9.5 percent, bringing the typical residence to $321,000,” Lonergan explained. “By contrast Dupont’s increase was only 4.5 percent, however their average value remains higher at $334,000.”
The highest average value in the county is $482,000 in Gig Harbor, while the least expensive homes are found in more remote locations such as Wilkeson and South Prairie, averaging $207,000 to $210,000.
Lonergan cautioned homeowners not to jump to the conclusion that an increase in value will result in a tax increase. “It’s a math equation,” he said. “Your tax in 2020 will be the 2019 value multiplied by the combined tax rates of your school district, city, fire district and so forth, added to the state and countywide property taxes that everyone pays. A lot depends on votes by the public and the Legislature.”
For more information go to the Pierce County website at pierce.co.wa
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