SPOKANE COUNTY, Wash. — Yearly property assessments will be hitting Spokane County residents this week, but the massive growth throughout the region could mean a stark increase in residents' property taxes.
Property assessments are forms that show homeowners the assessed value of their homes. An assessment is given to residents each year. However, the high demand and low inventory in Spokane County is driving up home prices in the region.
Spokane County Assessor Tom Konis said he has never seen such a stark increase in home prices.
"I never thought that was possible for Spokane," he added. "We’ve always typically been a 1-3% appreciation area."
On average, Konis said assessed values have increased a whopping 30% in Spokane County for the 2022 assessment, which will be used for 2023 property taxes. Portions of Airway Heights are seeing the biggest increase at nearly 34%.
"We’re looking at a county-wide average of about a 30% increase in assessed value," Konis said. "However, the way taxes are done in Washington, all of the municipalities-fire districts, library districts, after their initial levy is passed- is limited to a 1% increase in their budget unless they come back for a vote of the people."
It is still too early to know exactly what each individual's property taxes will be in 2023, according to Konis. This is because tax districts' budgets have not been finalized yet and there are a number of levies that will be on the fall ballot.
If residents have already received their assessment and feel it is incorrect, Konis is encouraging people to reach out to the county assessor's office.
“If you don’t think that value is correct or if there’s something specific about your property that we don’t know about, get ahold of the appraiser," he said. "These values are not set in concrete. You have 30 days to appeal if you need it."
To get an idea of what 2023 property taxes will look like, residents are encouraged to look up their homes on the county assessor's website.