More Property Tax News from Senator Parlette!
In addition to SB 5099 requiring annual assessments and SB 5000 we discussed earlier, Senator Linda Evans Parlette is sponsoring SB 5425 which requires that if a county that values property on a multiyear schedule (as opposed to annual valuations) has a drop in overall real property values of ten percent or more in a single year, properties that were valued during that year would have to be revalued again the following year. To determine the drop in property values, a county must use the market data as determined by the Washington State University center for real estate research.
She is also co-sponsoring SB 5368 that provides for annual revaluations and provides funding by adding $5 to each real estate transaction to fund counties changing to annual revaluations.
Here she is via audio talking about her property tax relief efforts:
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