Washington Tax Appeals Board Reduces Seattle Property Assessment After Condition Reclassification

The Washington Board of Tax Appeals (BTA) set aside King County Board of Equalization determinations and reduced the assessed values of the taxpayer’s commercial property in Seattle, Washington, for 2022. The property is a 27-unit apartment complex built in 1906 with an effective year-built of 1993, consisting of 24 studio units and 3 one-bedroom units, and the King County Assessor had assigned a value that was sustained by the King County Board of Equalization before the owner appealed to the BTA, contending a lower value. The Board found that while the owner’s income approach did not demonstrate errors in the ...