Washington Tax Board Lowers Seattle Apartment Valuation

The Washington Board of Tax Appeals (BTA) issued a decision lowering the valuation of the taxpayer’s Seattle property. The dispute involved the valuation of the taxpayer’s 28-unit apartment building. After reviewing evidence from the taxpayer and the County Assessor, including comparable rental data, income projections, and capitalization rates, the Board found the Assessor erred in overvaluing the subject property by using excessive rental rates. The Board concluded that a preponderance of evidence supported the taxpayer’s lower valuation based on more credible rental data and income calculations. [Ansonia, LLC v. Wilson, Wash. B.T.A., Docket No. 101598, 07/29/25]

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