Home values in Snohomish County continued a prolonged slide this year, according to assessment notices that should arrive soon.
Assessment notices being mailed this week show a dip of nearly 13 percent in value for residential properties. That’s the largest falloff since 2008, when housing declines began to show up in county assessments….
You might think then that the taxes on real estate would therefore be less. You would be wrong–they could be, but they may not be. Why?
Because of Washington’s budget-based taxing system, taxes can go up even when property values decline.