Washington Tax Appeals Board Orders Reduced Property Valuation in King County Easement Case

The Washington Board of Tax Appeals (BTA) set aside the determination of the King County Board of Equalization and ordered a reduced valuation for the taxpayers’ residential property. The dispute involved the true and fair market value of the property, which was encumbered by a native growth protection easement that affected approximately 40 percent of the property. The Board found that the Owners’ and Assessor’s comparable sales supported a reduced valuation from the assessed value, and determined that the most comparable sale required the least number of adjustments to reflect the subject property’s characteristics and encumbrance. [Wash. B.T.A., Docket No. ...