Residential property values up in Washington county

By: 
Steve Lyon

The taxable value of residential property went up again this year in Weiser and Washington County, mirroring what has been a strong real estate market throughout the  Treasure Valley.
 The county assessor’s office is mailing nearly 8,900 annual notices to property owners this week with an estimate of what the assessor says their property was worth on Jan. 1, 2020. The assessment is the value that will be used to calculate property taxes.
 Washington County Assessor Debbie Moxley-Potter said residential values are up across the county based on higher home sale prices. The data on home sales lags the current real estate market by a few months. The sales data used to determine assessed value are from Oct. 1, 2018, through Sept. 30 of 2019.
 The assessed value of commercial property in the county was basically flat. There were not enough sales of comparable properties to move the valuations up or down on commercial property.
 Agriculture land in the county went down slightly in assessed value. Ag property is assessed on a rolling five-year average based on an income approach.
 Moxley-Potter said the increase in assessed value for residential property doesn’t necessarily mean higher taxes for homeowners. The amount of property taxes is determined by the budgets set by the various taxing districts in the county.
 The assessor’s office does not set the property tax rate for the county, nor does it collect any property taxes. The assessment notices are strictly to inform property owners what their land and improvements have been valued at for the purposes of collecting property taxes.
 Taxes may increase, decrease or remain the same on the tax notice property owners will get in November.
 Property owners should see on their assessment notices a value placed on the land and a separate value placed on the improvements, such as a home, pavement or outbuildings.  
 There is also a column that shows last year’s assessed value. If there is a homeowner’s exemption, that is also shown on the assessment.  
 The bottom of the assessment notice shows a dozen taxing districts that collect property taxes in the county.
 Property owners pay taxes to different taxing districts depending on where they live. The date of their budget hearings are also listed on the assessment notice.
 Idaho law does not limit the amount an individual’s property tax bill can increase, but it does limit the amount taxing districts can increase the portion of their budget that is funded by property taxes.
 Each taxing district can increase its budget by a maximum of 3 percent over the previous year.
 Anyone who has questions about their assessment or the appeals process should contact the assessor’s office to review their appraisal as soon as they receive the assessment notice.
 It is important that they don’t wait until they receive their tax bills to review their assessment. Idaho law requires that appointments for protests be made on or before the fourth Monday in June.
 Property owners can contact the Washington County assessor’s office with any questions at 414-2000.

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Signal American

18 E. Idaho St.
Weiser, ID 83672
PH: (208) 549-1717
FAX: (208) 549-1718
 

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