In 2009, the Washington State legislature passed a law requiring that all counties value property on an annual basis by January 1, 2014 (SSB 5368). Chelan County made the decision in 2008 to convert our old and outdated appraisal software to True Automation’s PACS Appraisal software. The installment of the PACS interfaces well with online applications and the ability to adopt the annual update process.
Revaluating properties on an annual basis establishes uniformity, equity and predictability with your assessed property value.
- Uniformity: Property is assessed every year according to current market data. All property is reviewed every year to determine the current market value for tax purposes. Prior to annual revaluation we were only updating a quarter of the properties per year. The remaining areas were not revalued and did not reflect the current market conditions.
- Equity: The tax responsibility is distributed more equitably. The assessed value of your property determines the share of the property taxes for which you will be responsible. Annual revaluation means that all properties are reviewed annually, so all property owners pay a more equitable share in each tax year. This is particularly important for the State school levy and other countywide levies.
- Predictability: Taxpayers and taxing districts know what to expect. Annual revaluation reduces large fluctuations in assessed values that sometimes result from a multi-year cycle. As a result, changes in assessed valuation as well as changes in property tax may be more predictable, stable and gradual.