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Property Tax System THURSTON COUNTY .."..,~~= ..~l."II:.:J ~I ~]NCE 1062 T.....11bl (I V, I I I I~'~ ,=","= _"".,e r.,.,." r ~ Patricia Costello, Assessor Dennis Pulsipher, Chief Deputy t' Tt'ri er cy _iax JIV t ys rem . 1...1,0".'.,/1 1 " . ~ '; \ WM",,""'~ "",-""., ':">>:''<0 T' 1.1." Ih'rl, I UI ..:.'. rr.... 'SP.'.ltf#.' Dr I Cr" '.....1 ! .~ i .1 II::J .~: ,"" fi .. "'," ,~, '_l' __, ., .. , ,"d'Y .J/ ~'" ,,=_ . ,.'/ t I..... I.'. Dt'I.' 1.- r.l I ", I ' , " ',' U~,yy THURSTON COUNTY .."..,~......... = ..~l."II:.] ~ I ~lN(:E 1062 T,"'rA I ~' " '.,.' '..".. , 0"" F"."" C".'.O'.N..'...T"".....N. "."T'='.. '8" . f;'" I' I' i ) I I I' " i i' '. ~.,,,,7 ._<.......',.. : ......"'v .,...."."."".- ..u.. : ,,'_'_',_',_ .,....,_.,.; ...._. ,... ~<<~ 1. Stakeholders in Thurston County's Property Tax System 2. Role of the Assessor 3. Property Assessment Practices 4. Levies 1 S. 't.al'.k'lr ('h~ 'o..)ld1e"r's' ~n:' T.i ['h", · 'fr"S'lt'or nt, Ci" lor .Inf ,t" '/"S'" ". '. .."'''....' . I r.l I " ,'" I.. ). " I,', I I ".' Ii' ,'I II i I....r )'. ~,' ."'\)_,::> i", ,~"" 1" ':!';~ ;:',t~: ",,~'~,l, ,l j " ,f ..~ ,,,,...,,..e,,,,,,, """",, ",_,_-"",,,, ",,'fJ ~"",~..,~ ,.. ".."",,,,,0,,,,,, "'''''''''~ "",,'" "'~,~ ",," D""",,,,,,,,, "'Yl ."." ~ Piri)op.."e...rt" T" 1 'a.....v sr\y,,/s:t'ei m,.. , ' ,,,,,' ....1 "',;J::'...L .~" '" ,,; ,.,.4.",,,i . / )"",;:, '."",,,',,, I 1. ASSESSOR 2. TAX DISTRICTS .ea.' Values Property .ea.' Provide services .ea.' Calculates and certifies levy rates .ea.' Adopt budgets to pay for services 3. TREASURER 4. TAXPAYERS .ea.' Collects property taxes .ea.' Receive services .ea.' Distributes revenue to tax districts .ea.' Pay taxes to fund services 2 A .. t: A' t"h' 4tit" &':1 pI.. t..4ti /. ',' :e""'''.''S..'.S'...r",,, I.' :~,..: ;.'" ',".' f.~'.i ,'.'. II =,'.' '.( :.",0; 'F:.""'I.,.: ".: 'l ," /.., :,"." 'f.."" J; ....' I' ".".'''1' I. ("."'. :..~; .. _:""" .SS:,,,,, ""men :, -,::",U,,,:.: ij"",,,,, ,,,,,,y ".......,," .. ... ........:... ac. ":,,,;c.es; Guided by: ~ Statutory Authority - Titles 84 and 36 RCW - WAC 458 ~ Professional Standards and Practices - International Association of Assessing Officers * Assessment, Ratio, & AdmmIstrative Standards - Uniform Standards & Professional Appraisal Practices * Standards and Ethics 3 P:....rtim' ""8:' .r,'y.t' A,"""S"'.S" 'et ..s'lsor" Re....s:,p.... ,onsibiliitie"s", ."."".. LJ..I..~l..( . i/.,''''....., ,.,,"':'. ~I..J) ..,,' ,,:,,; j,}' '."i", ,,,=',,,, Ij"I"I",L ,.=:; ....,~ Four Core Areas: - Property Records Administration - Property Tax Exemption Administration - Property Assessment - Levies Administration 4 PI,fPr","'o, ',p,e' ,F"'t",Y't Rr""~ecf,'o',r",,vd. is',! A0d', 1m', ,'," ',,'I4t:n,' ',I'st'~f',,")a',:, ""tr",)lIt;o'n','1 r i , I , .... fl' I ,~C ", .,' 'i 1 I .' /' ,I 1 I 1 I I I: ,II' j.1 Iii i "",""'w,, ~' ;,"'",/ ,,,,,.""_,,~.. .~ , .,,',Y,_','_.. ~w.','" "..."'^..,,~,~ ....._, ~''''':h.",,,Y ....,,:~" ,~n', ,~,.""",'"",";~,,,,,,,,,,",.,;,,='_,__....,., ,p) ,~_......:..- "^""Y;:' ,~",:." :,,_,,/_.......~...".,.i, .,~.... N~ Real & Personal Characteristics - Taxable & Exempt - Property size, improvement size & type, quality, condition, amenities, etc. Parcel Maps - Revised each year to update for changes to property boundaries. Property Segregations - Subdivision & Combinations of Property (i.e. long & short plats, boundary line adjustments, surveys, condos). 5 Pi )rO' P' e r't)'y" R' iec' or'd' IS'" A" dim' '14t'n4ts"t-f'a"t:,4t'o ',""'V , t" r," f,,' ",7 ",., r "., r, "-,,', ,. " ," I ",', " ( r I ,'," ',~ ',' ! '1'1",' I I ',""'," ",' ,I r' ,,'n' ;,' ~ IJ ! ...) P>=> j ).. Y j =~,' : j [ ;) , r ',,, .; ~ 1 1 ~: 1; ; ".':_ ;: "/; '1 i i ) i ~ ..~" '. _ .~, m~ 1"'/ . ._,,- ' '."',.'". "",,~ .~l .~. ~~,' <;> ,~ .w..,.""' ~~~., N ,,-.,". " ",..,~ .. .'.... ,.'.....h, . ~".....,~"" ~..'.~.. ~.,..:., ..~.,..., ",.~:... ... .=m.. ~ .-.~ -~ .,.m:", :".' ..;:x;' .,:;< ..~...'., 0";/'/ ..... .'.. --,...~ ". ,.,., ;1 Records Updated Annually: Ownership Updates Property Segregations Parcel Maps Real Property Characteristics Business Accounts 13,000-15,000 4,000 +/- 1,000-2,000 20,000-30,000 5,000 +/- 6 Erl I~'e' 'mr {'piit1io'D P;r'l"o: ,;o'ram"( 'S' , ',' .A, i,"j'~.illi'" ,...:.j ,,:...,'.. " '",,/@t,,~ ..~ .;,.:....'....', " Properties eligible for exemptions: Senior Citizen & Disabled Persons - Primary Residences - Value is Frozen and taxes are reduced. - Qualified Senior Citizens & Disabled Persons (Income below $30,000, at least 61 years of age OR 100 % medically unable to work) Non Profits (DOR Programs) - churches, lodges, museums Government Exempt- city, county, state or federal lands Current Use (Open Space, Farm & Agriculture, Timberland) - land valued at current use rather than its highest use 7 E,i " t... A'" d' .. · "'.t' , , t" '~f ::: r."" ::r _' I~ ; :( ,,-;"':: Y' ,~" (' (::: ~ t' :1: ~":::: ., _ :(' ~ .,:~:_ F , t): :~ m:1ix,e.mpwlon '.... ' "",'.. , ::mlnIS, ,ra,LIOiD Properties within Programs: Seniors & Disabled Citizens 4,800 Non Profits (DOR Programs) 1,002 Government Exempt 2,300 Current Use (Open Space, Farm & Agriculture, Timberland) 1,670 8 p" t' A' t' ;_""'~' (J }' ':,: ", r '. '~,.r} r''->~' "'( .!"" ~ ~ '-; { .".; '/'! r," ';,/ i l,' ,,' (;!(" I""," """,,,,^',,,f,, '",",' . ' "",,'''^',' ,,',',' ."',, ',''''''','''''''''''' " .. · ropeL~Y ",~M,ssessmen :., ~,-",-",,"'.' ..:;<'^ Physical Inspections - Maintenance - Physically inspecting 1/6 of the County each year as required by law. New Construction - Annually List & Assess all new property. Revaluation - Annually Value Real & Commercial Personal Property to fair market value. 9 P' 'b' , " ", 0:, 1:~Ii", .... .' , ' .t.-~ " ','. Ii:'" , "j r I ,1 .), ': ".!" I D' I I .;.,.1 r .,' 111ft: I '1 I ",F.',,' __~. =:-Iys.ca~,,__:,.~.:,,~~,S, ec ~'...', ...I.~S..,.I.Oi.": M, "l rat :1.iDr .'t'e" 'n' 'a' 'D'" 'c"'e.l &,",..j' N,ie'w..."i/ c{r 10' "DrS'it;'f/"iU.1 le"it;'I~O/ni j , ..,',,' ',' . ,', ',"-,',' I ',', ",',' ,,- , /" I ',',' ".',., .",., ,', I, '"., ',." " j I, ' l :I ., ,;' ; ( , :: . . ~,."" ,',: :"'?" t ".:) ../ ' ~ .'., ,,:" < ,. ; ,: l _,,,. /. '. ,0" ,,; .~W,'.',',. ~..~, .,w.'m. ~ " h :", mY' .;, "".:.,. ^WNm ", ,Ilf>' ry " ,,,,F .= ,; . ./ I . .m,,,,,,,,,l . '""",/ _:.., w.,.,~:.. ,--..j/ -,.-.;;;-.' ~w.:, . . ",' ...' ,.:",( ~"~.~" . ,!", ., ' ."",J, Rie',,' a" 'S"iOf'D" -' / ~ .::' i .J i ; ~":,, ."j. , ,,,,' ',,,,,,,, ~,..:",..' .. Identify .. List .. Verify property characteristics. Site Characteristics - Location - Shape - Amenities .. Wetlands Buildable/non-buildable Improvements (House) - Size - (sq. ft.) - # of Stories/Basement - # of Bedrooms, Baths - Quality (Fair, Average, Good) - Condition (Poor, Fair, Average, Good) 10 11 N' C/' : t" t' .' ~ f , W ;' - r i ," " '! ~ ..,.) ("':' . ~ :! i t~; ;-.: 'i (' ( "'''''''W,'' "If , ,', ' ,'" " ", I ,I, ',' ,I, ' " II. :e /! 'w"ons ".ruc ~".,,:OD. ~ Elements . Listed and valued each year · Building Measurements · Building Features/Components . Valued as of July 31 rather than January 1 . Valued at its level of completion on July 31 NI 're" "W'" ~r Cl,r lOt 'ntiS.'it~f'''U' 'C,,,'t:I~O('n"!" EI1IX'ra; 'm' r 'p.)re..'.. ,. I'.'"'''' ! (; " I 1 'i " : ,:" ii"." -, I;, ,'i',' I I ,; ; ,'"'' , ; ~ , ~ i '! j , .' ,< ," ~ ", , ':" ~';l ~ i :, :) !' : i ~- __, _.0' ~""~ ., ~' ::>")' '......~ ",'~' ~..........,... ,,,,.,.,,. .v..v' ......". ~>>' .',.." V~>V "-.;;,,' "N''''''.. ".",,>" ..""-",,,.'^," v,,",","""~~ , ." ..,~~-, ,,:W -,. ..,."..... ..,.,~~" ~."."L-'~~ ,_.-,,,,,.. .~"":,, ea.' New Home $ 40,000 Land 110,000 Improvements $150,000 Cost to Build (including builder's profit) ~ Year 1 - Estimated 50% Complete on July 31 $ 40,000 Land 55,000 Improvements ($110,000 @ 50 percent) $ 90,000 Assessed Value ea.' Year 2 -100% Complete on July 31 $ 40,000 Land 110,000 Improvements ($110,000 @ 100 percent) $150,000 Assessed Value 4 11I111I ~ 1~lilll ~ 12 Rrrie' ,.a: .,)1 pr"rftiOI ..p.,.e',r. 't;.y' r V' ..fa: ,,)Iu'a: ,t'I.;O/'O' I, "'~""",' ",,~' ! {, ,~ ; ; "'"~<','" ,,' ': l l' ",",' ~ 0/" '", ~, ~ ',,; " I, 1 ~ i 1 i~:\ y '." - ",:i". if /:, ii" 1, '" 1 ,} { ( ..h.....':~. ,A ... '. .,,' ~,~':'" ......w,' ..~,~,w... ..",,,y,, . """w'" ; or!! .",.j ,."WN.... . .",.". /f l. ":.,,. .J?' .WN';" 'eM'" ..'....~,.. _vV' _.,,-is ..,-"''- ,,',wM.', .,_.",_,../ ,','m...-" NWN. ~=V^. "",J 3"A h! ./ "'"I'"'"7"._",,,,,r,,,,' ",",: V, "",~ ',', ""'..,, ",i , ,/"lJ1p.r(),aCf ;.es 1. Cost (market calibrated) Approach 2. Sales Comparison Approach 3. Income Approach 13 el/' iO'S.,t;- A. P'P" r"oac"h:' Mil rOi d.lef)i . "',, ,,','," -- ,"". '",.,' " ,'" -, ;, ,.., 1, ' ';"', ", ;', - V 1, ;',' ,,' '1 " .,.,. , ~ ,1 J :" 1 ,~,,:__w - 1 :i i; f l) .'( } \ " i ~i ,J 1 ,jl ; _ ! ;w_,_,~ 1 ,."""..,,,,' .! :,' .-.-' , ~ '=~'N 1."~;/ ,~,L." =,:. . roi,~ ,,,I =N"" .'~', f .mm~. .,.,.,f!/ ""."c,...~ !'!!!!!W'" ^~,~. 1. Most Common Model for Mass Appraisal 2. Model Mechanics ~ Replacement Cost New (RCN) . Sales of New Homes in the market place ~ Less Depreciation (RCN) . Sales of U sed Homes in the market place efbI Equals Market Value Estimates (RCNLD) 14 Cr' J ,'" 't' A " "h: Mi' r d'" 'I ' ) !, l" "') ';': " v" ,,',.::' Y j ',- ',' l, ,~ t ': ~' :: r f '? '" ' ,,' ,,~, I' r ".,:f: i,"',' I, l "I', 1 I, , 1 r, i i l', e, '" .,1" ',?OSI ,~,..:~."PP,,,,..,.., oa,C,,,,,2. ..:.... /,,:.0 .,~_/m' 3. Property Revalued ~ Cost Model applied to all improved properties 4. Neighborhood Analysis/Updating ~ Sales/Assessment Ratios (95% - 100%) ea.> Measures of Dispersion 15 Pl,~ja: !rlc"'e/,)J Cr 10'U' In, 't;- I', "',," i, ',''''',' 'I, ' I ,,' , :,', " !, " ~ I 1 , ' j ~ .) i 1 i ; , ,,",,'" '" ',,,' , '" ./ ",Y ,,<,' ",!!?, ,J ,: '" ~ "-.:,, .."j ~'" /', I,,' , ibtlV /', 'd' ,/ N" "t, 'I t'l i' r" " "hi ''If ,,' l,!, '" / /,,/, Of" ',' ,/" "J /, r, I', r/ , ,Ii ,'J "',_" ,} / ,> ,,' ' , "' I, ,"'" I 1 '" "'" '" ", ,',' , V ' , V ! ""~ , " " i" , "" tlXtl,''1t! tin >" "" '" on tlXQsJt! Real Property Parcels: Single Family (including vacant land) Multi -Family Commercial & Industrial Miscellaneous New Construction: Approximately Personal Property: Number of Accounts ~ yJoF J Y ~vJ- IJS o{\ o ~ !LO (Q r~ rr ''J l 80,000 3,500 4,200 18,000 105,700 3,000 - 4,000 5,000 16 Lr ',S/' i t't.., :,', er", "V' '! r", ',' ',' FI".,' ',( ',' ,', T ",:..,.1""', ! y; .)e,v,:no ",,/ e: 4t: a....s' 'ICS " .,.... ,~ I.; 'd; Two Pieces of Information Needed: 1. Assessed Value (A V) of All Taxable Property 2. Budget for Taxing District 17 Li" .,1. ..'.,,' " R' f.) "'..,.".:t ...,.,.. Ct""; ..,)1 :.'.'.,'.' .. ..):, t- ~-1evy J.a ~epalCUla Jon Taxing District Budget + A V == Levy Rate for Taxing District $50,000 + $100,000,000 - $.50 per $1,000 for Taxing District 18 E'" , ), C/w ,.'t' f'.} y"'" r )' ; I' ,,'" I' ',"" ... , ie"',.", I '1'1, ''',' ",V r ",:1,' .~ er,' I I r I ...~i ,1xampiL:'. ",'.'. .,:;y OJLm,L "::;!.m 2001 Tax Rate Breakdown - Tax Code Area 170 Taxing District Rate Per $l,OOOAV State School County ConservatIOn Futures 3 13437603780 1 774972632696 o 06250000 0.284502786999 3080675026123 o 08860686 04691257753 4.309596265523 0.50000000 Port of Olympia City ofYelm Cemetary DIstmct II - Yelm Medic 1 Yelm School DIstnct Timberland RegIOnal LibraI)' Total Tax Rate 13.704116950421 19 E':ix'V8'm, ,p" )',e' o",f",' C',18")I"If',',','U' ','liat').:,n,g'" pl~r'o"'"p/er""r""t',y"",,, T/ [lax'7e' ,S", r; ? ~ ~ ..;,! 1 '! j ! 1 1 >.,," ! j ,j i_, -', ~ ! ~_. 1, I ! " i i ! , ! ,imN~: r~'" r 1 j ! ;;;,'<=..1 f' ll~ !';, 'i .- :~,~,j , ,,'~'"~ > ,_. ,~.... ",,' ~. _A_'_~" ~ i ') ,'--- .""'.: .~J+ ~, . ~ ..." """." ,.~", ~~-", "w;~l -'!.~ '" N . ~" ~V '.. " 'm," ,;~~ NOO"'''''' ,.~...', ...........,/ M,^,~,_....Jf .'~' 'M'..'. ~."" ,,,j/ ___._ ~~.., ",," .._.~.w". ,.~.,."..' <.......,/ Assessed Value Times Tax Rate/$LOOO Equals Annual Property Taxes $100,000 X 13.704116950421 $1,370.41 Assessor's Office Taxing Districts Treasurer's Office 20 Pr vr 0" P' e' rt;"yy" Rr i 8',t:eisi il~ff~e" i r' re r I!' ".' '-: ' I" : ";,': >; 1 l" IJI~'~ I~ _,___ ",~..0 '.' .,' =,:,,""" .~,~ ,'.',.~. ,J#' =~ ','.', ,',' .,y'''' "';3" .,.,..>' _.~}:.;!' "...,.",,,; , M_ ~_= ......," ~w= The amount of tax due on comparable parcels differs throughout the county because of ~ Various combinations of taxing districts ~ Budget amounts for each taxing district ~ Presence of voter-approved levies & bonds 21 R- I' ~IC! 8" : Pi,' 9 m= =,,~~, ,~,',,~, 3 Components of Property Taxes 1. Assessed Values · Individual Properties · Aggregate Value within the District 2. District Budgets 3. Tax Rates 22 A'S' "s' Ie" 'S' "s' 'er'd. V' /a"):u' ie, A" )'):0'" c" ;,8" ,t, e',s'! T"I :3: 'Xi"' Dr 'U' 'F"'d'er "0; , ',,' ,""'''' ,,", " "', ...,', ", " ' '. .'... ". ',',', " ",', "~", ", ", ,', , " ", '" I r, '.', '-,.,.,.,', " ""'" r~-^ , :: " ,. : ,>"" 'r"" :. t,. :. l.-' " <. ; : , ",' ' ",..'" __"..i ,,,,,' !!!!9 "j, ,',,,,:" ,7""" ,; "''''.' _", "Y ""',."...-'..,',.,"',.~ "~",,.' ;">'" ,,,,,' ..", ',' ",' _."" .,....:~~ ,,', ....." : ,,,:, ,~,' ",:" ' Assumption: Assessed Value is the tool used to allocate the portion of a Taxing District's (tax collection) budget that each property pays. Taxing District Budget: $ 4,000 Allocation of Taxes: Year 1 Year 2 Value 0/0 Tax Value % Tax Property 1 100,000 25% $ 1,000 95,000 22% $ 894 Property 2 100,000 25% $ 1,000 100,000 24% $ 941 Property 3 100,000 25% $ 1,000 110,000 26% $ 1,035 Property 4 100,000 25% $ 1,000 120,000 28% $ 1,129 Totals 400,000 100% $ 4,000 425,000 100% $ 4,000 23 ~ ... T- . 'h" t. eM' t A · 0' fli I ' .",.,."' , "", ""'.', ," ;' ,.0",','."" " ',D'.', '-,' ',' '" " '" "', ',',," . "."",," ",f" "7J "'" "" '," '," '. '<"". ',,' L "i"lurs _on '~/',.~U..L! LYrii.."s,sess,o." S ;,~,,),rrlce Please contact the Assessor's Office if you have questions about property valuations: Call us at (360) 786-5410 Drop by and visit us at Thurston County Courthouse Building 1 2000 Lakeridge Drive SW Olympia, W A 98502 24 , \ WWW, ~~0 ~J~ cYc;>;-