Vote for Bill Spencer (GOP) in 2010
Benton County Assessor
Benton County Assessor
THE ASSESSOR'S ROLE
The role of the Assessor's office is to establish a value for all property for tax purposes. The Assessor is required by law to set that value at 100% of market value and to assure that all values are in equalization.
The Assessor does not create market value. Market value is the price a willing buyer and seller would agree to under ordinary circumstances. This does not mean that an individual sale will automatically establish the value of a property. The Assessor uses multiple sales of comparable properties in establishing value.
Taxable property is divided into two classes. Real property includes land and all buildings, structures, and improvements to the land. Personal property includes machinery and equip-ment, fixtures, furniture, and other items that are movable in nature. Personal effects, which are not held for sale or commercial use, are not taxable.
FREQUENCY OF VALUATION
State law requires that the Assessor maintain an active and systematic program of real property revaluation. Real property is land and any improvements, such as buildings, attached to the land. All real property in Benton County is physically inspected at least once every six years on a cyclical basis. In addition, assessed values are updated countywide on an annual basis by statistical analysis. If properties in a particular area consistently sell for more or less than the assessed value, the assessment roll will be adjusted to reflect real estate market conditions in that area. If the character of property changes because of remodeling, additions, subdivisions, etc., a new value is determined
METHOD OF VALUATION
The laws governing the tax appraisal process Washington State are based upon the same principles and procedures that are used throughout the appraisal profession. There are three basic approaches to the valuation of real property:
PROPERTY TAX LEVIES
The Assessor does not raise property values in order to increase taxes. The cost of providing public services determines your property tax. Local government consists of various taxing districts including fire districts, regional library, cities, county government, roads, ports, etc. A portion of the tax is distributed to the state for local school support. In addition, taxes are collected to pay for special voter-approved levies, such as school maintenance, operation levies, bonds and emergency medical levies. The Assessor sets the levy rates based on taxing district budget requests, statutory limits and property values. Levy rates are expressed in dollars per thousand dollars of assessed value.
TAX LIMITS
Property tax levies are subject to several statutory and constitutional limits.
The "101% levy lid" restricts individual taxing districts to collect a maximum one percent in-crease over the highest amount collected since 1985 for their regular levy, plus an amount attributable to new construction within or annexations to the district. This law applies to a taxing district budget and not to individual properties. RCW 84.55.010.
The regular levy of each taxing district cannot exceed a certain rate, which is determined by the type of district. For example, the levy for the county current expense fund cannot exceed $1.80
The aggregate regular levy rate of all senior and junior taxing districts (not including the state, port districts and public utility districts, emergency medical levies, and conservation futures) cannot exceed $5.90. RCW 84.52.043.
The aggregate of all regular levies (not including port an public utility districts) shall not exceed 1% of true and fair value. WASHINGTON STATE CONSTITUTION, ARTICLE VII.
THE BUDGET CYCLE
Every year the directors or commissioners of all taxing districts meet in open session to determine the amount of taxes to be collected the following year. Public questions or comments are welcomed during this process. Once the budget has been adopted, the amount of taxes to be collected is certified to the county assessor. The assessor computes the levy rate required to raise the certified tax for each district, and ensures that none of the constitutional or statutory limitations is violated. After the county council has certified the levy rates, taxes are extended to all property within the boundaries of the respective districts. The county treasurer mails tax bills on February 14 of the year in which they are collected, and the receipts are distributed back to the various districts.
TAX RELIEF
There are several tax relief opportunities provided by state law, including:
The Assessor does not create market value. Market value is the price a willing buyer and seller would agree to under ordinary circumstances. This does not mean that an individual sale will automatically establish the value of a property. The Assessor uses multiple sales of comparable properties in establishing value.
Taxable property is divided into two classes. Real property includes land and all buildings, structures, and improvements to the land. Personal property includes machinery and equip-ment, fixtures, furniture, and other items that are movable in nature. Personal effects, which are not held for sale or commercial use, are not taxable.
FREQUENCY OF VALUATION
State law requires that the Assessor maintain an active and systematic program of real property revaluation. Real property is land and any improvements, such as buildings, attached to the land. All real property in Benton County is physically inspected at least once every six years on a cyclical basis. In addition, assessed values are updated countywide on an annual basis by statistical analysis. If properties in a particular area consistently sell for more or less than the assessed value, the assessment roll will be adjusted to reflect real estate market conditions in that area. If the character of property changes because of remodeling, additions, subdivisions, etc., a new value is determined
METHOD OF VALUATION
The laws governing the tax appraisal process Washington State are based upon the same principles and procedures that are used throughout the appraisal profession. There are three basic approaches to the valuation of real property:
- The MARKET APPROACH involves comparison of a property with the characteristics of simi-lar properties, which have recently been sold.
- The COST APPROACH involves estimating the replacement cost of a structure, and adjusting that estimate to account for depreciation.
- The INCOME APPROACH is an analysis of a property's value based on its capacity to gener-ate revenue for the owner. All approaches, which apply, to a particular property may be used by the appraiser
PROPERTY TAX LEVIES
The Assessor does not raise property values in order to increase taxes. The cost of providing public services determines your property tax. Local government consists of various taxing districts including fire districts, regional library, cities, county government, roads, ports, etc. A portion of the tax is distributed to the state for local school support. In addition, taxes are collected to pay for special voter-approved levies, such as school maintenance, operation levies, bonds and emergency medical levies. The Assessor sets the levy rates based on taxing district budget requests, statutory limits and property values. Levy rates are expressed in dollars per thousand dollars of assessed value.
TAX LIMITS
Property tax levies are subject to several statutory and constitutional limits.
The "101% levy lid" restricts individual taxing districts to collect a maximum one percent in-crease over the highest amount collected since 1985 for their regular levy, plus an amount attributable to new construction within or annexations to the district. This law applies to a taxing district budget and not to individual properties. RCW 84.55.010.
The regular levy of each taxing district cannot exceed a certain rate, which is determined by the type of district. For example, the levy for the county current expense fund cannot exceed $1.80
The aggregate regular levy rate of all senior and junior taxing districts (not including the state, port districts and public utility districts, emergency medical levies, and conservation futures) cannot exceed $5.90. RCW 84.52.043.
The aggregate of all regular levies (not including port an public utility districts) shall not exceed 1% of true and fair value. WASHINGTON STATE CONSTITUTION, ARTICLE VII.
THE BUDGET CYCLE
Every year the directors or commissioners of all taxing districts meet in open session to determine the amount of taxes to be collected the following year. Public questions or comments are welcomed during this process. Once the budget has been adopted, the amount of taxes to be collected is certified to the county assessor. The assessor computes the levy rate required to raise the certified tax for each district, and ensures that none of the constitutional or statutory limitations is violated. After the county council has certified the levy rates, taxes are extended to all property within the boundaries of the respective districts. The county treasurer mails tax bills on February 14 of the year in which they are collected, and the receipts are distributed back to the various districts.
TAX RELIEF
There are several tax relief opportunities provided by state law, including:
- "Open Space Classification" for agricultural land, timberland, and nature preserves
- "Designated Forestland Classification" for timberland parcels 20 acres or more
- "Historical Restoration Exemption" for historical significant property under going restoration
- "Improvement Exemption" a temporary exemption of valuation of additions to single-family dwellings
- "Destroyed Property Claim" adjustment to the valuation of destroyed property
- Property tax exemptions for senior citizens and disabled persons
- Full tax deferrals for senior citizens, disabled persons and exemptions for qualifying property owned by non-profit organization
