Washington Appeals Board Partially Sustains Taxpayer’s Property Tax Valuation Dispute

The Washington State Board of Tax Appeals issued a decision granting taxpayer’s property tax appeal against the Kitsap County Assessor. The dispute involved the 2021, 2022, and 2023 valuation method of taxpayer’s independent-living facility and a skilled-nursing center. Taxpayer used the cost approach for the independent-living facility while the assessor used an income approach. For the skilled-nursing center, taxpayer presented an income approach, while the assessor relied on the cost approach. Regarding the independent-living facility, the Board found the assessor’s income approach persuasive, concluding that it properly valued only the real estate and that conversion to apartments was legally permissible, ...