Washington Appeals Board Decides King County Assessor Overvalued Taxpayer’s Contaminated Residential Property, Reduces Valuation

The Washington Board of Tax Appeals (BTA) Feb. 28 decided to set aside the King County Board of Equalization’s property tax valuation of Taxpayer’s residential property. The property had an underground fuel oil tank that leaked. Taxpayer bought the property without checking the extent of the problem. Taxpayer made substantial renovations after the purchase. The King County Assessor assessed Taxpayer’s property. The county board reduced the valuation, considering the post-purchase contamination clean-up expenses. The assessor appealed, seeking restoration of the original valuation. The assessor provided sales comparisons. Taxpayer provided bank-appraiser’s sales. The appeals board noted: 1) the sales provided by ...