Washington Tax Appeals Board Lowers Taxpayer’s Property Valuation After Overvaluation Ruling

The Washington Board of Tax Appeals (BTA) issued a final decision setting aside the determination of the King County Board of Equalization and ordered a lower valuation of the taxpayer’s improved residential property for the assessment date. The dispute centered on the true and fair market value of the 6,760 square foot, excellent quality house built in 2020. While the Assessor relied heavily on sales from 2019 and 2020 with substantial market timing adjustments, the Board gave greater weight to more recent 2021 sales, requiring smaller adjustments, finding they provided more reliable evidence of overvaluation when compared to the Assessor’s ...