SAN JUAN ISLAND ASSESSMENTS

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Tax rates in reassessed area drop $1 per $1K

posted 11/07/2006
San Juan County Assessor Paul Dossett estimates the property tax rate for 2007 will be about $6.75 in Friday Harbor compared to $7.79 in 2006. The out-of-town rate will be approximately $7.00 compared to $8.01 in 2006. While the rate is lower, individual property tax bills may be higher due to increased property assessments. Properties on San Juan (except for about 1,000 properties on the south end), Brown, Henry, Stuart, Johns, Spieden, Pearl and Dinner Islands were reassessed this year. The county is divided into thirds with one third revalued each year.

A property owner with a $400,000 property paid $3,204 ($8.01 x $400) in property taxes in 2006. If the property increased in value the average of 44 percent under the new assessments, they would be paying $4,032 ($7.00 x $576) in 2007.

Dossett said the estimated tax rate will become more firm as more information about the state tax levy is obtained.

Assessed value up 44 percent

posted 10/31/2006
The 2006 reassessment notices will be mailed on Wednesday, November 1 to property owners on San Juan (except for about 1,000 properties on the south end), Brown, Henry, Stuart, Johns, Spieden, Pearl and Dinner Islands. The total assessed value not including new construction has increased 44 percent in the past three years from $1,775,036,172 to $2,563,546,324.

Property is revalued every three years. In 2003 the increase was 30.4 percent.

County Assessor sends Revaluation Notices

By County Assessor Paul Dossett

Most of San Juan Island, and surrounding out islands, were reassessed this year as required by San Juan County's three-year cyclical revaluation program. The 2006 assessment notices to be mailed this week reflect a three-year 100 percent market value adjustment from the last revaluation performed in 2003.

As we all know, the real estate market has been escalating at an alarming pace. Recent local newspaper articles have indicated that the median priced home is selling close to $450,000 according to the North West Multiple Listing Service. According to recent sales, there is no evidence that the real estate market in San Juan County has declined. The assessor is mandated by state law to mirror the real estate market in the revaluation of taxable property. Comparable sales are used as the basis for revaluation of all real property.

Does the increase in revaluation of property increase taxes to county taxing districts? Not a penny! This is probably a hard concept to understand but in fact, the reassessment of existing property is simply a redistribution of the tax burden. However, new construction assessment does increase tax revenue at the time the structure is being built.

Washington's property tax system is 'budget based', meaning the property taxes we pay are based on the budgeted property tax revenue of the several taxing districts affecting our property. These districts may include fire, port, library, county general, county road, local and state schools, hospital/EMS, Town of Friday Harbor, and cemetery. Each of these districts is limited to how much property tax revenue can increase each year. As you remember, I-747 passed a few years ago which limited a taxing district's ability to raise tax revenue to no more than 1%, plus additional revenue such as new construction.

The silver lining to increased assessments is that the tax rate for each of the several taxing districts will drop due to district's ability to raise tax revenue and the increase in assessment valuations. A taxing district tax rate is developed by dividing the district's tax revenue by the assessed value of the district. The combined tax rate of the several taxing districts has been dropping and will continue to drop as long as the real estate market continues to escalate.

Because it's been three years since the last revaluation assessment, San Juan Island property owners who have been reassessed will shoulder a greater tax burden than the rest of the county for tax year 2007. But in the following years the percent of tax increase will subside (or decrease) as other portions of the county are reassessed.

Remember, the revaluation of your property may cause your individual taxes to increase but the revaluation process itself does not increase tax revenue to your taxing districts.

Record high new construction: $138 million

posted 10/17/2006
Property tax assessments are going out later than usual this year. One reason is the amount of new construction that had to be assessed - a record high $138 million. This broke last year's record of $99 million, according to county Assessor Paul Dossett. Orcas Island had most of the new construction.

The assessor's office revalues 1/3 of the properties in the county each year plus all of the new construction. This year Brown, Henry, Stuart, Johns, Spieden, Pearl, Dinner and San Juan Island (including Friday Harbor but not properties in the south end of the island) were reassessed. The property tax assessments for properties in these areas and the new construction will be mailed October 27, 2006.

After receiving their assessments property owners can contact the assessor's office if they have questions about their assessments. Appeals can be filed with the Board of Equalization. There is a 30 day appeal period which starts when the assessments are mailed.

Market value up 30.4 percent in 2003;
assessed value doubles in decade

ASSESSED VALUE San Juan Island (including Friday Harbor but not 1,000 properties in south end of SJI), Brown, Henry, Stuart, Johns, Spieden, Pearl and Dinner islands
2003	$1,765,720,050
2000	$1,290,624,400
1997	$1,013,958,325
1994	$890,015,518
totals include value of new construction

posted 09/22/03
The market increase for property on Brown, Henry, Stuart, Johns, Spieden, Pearl and Dinner and San Juan Island (except for 1000 properties on the south end) increased $393,377,186 or 30.4 percent in the past three years. Market increase includes the increase in assessed value minus new construction. Assessments were mailed out Thursday, Sept. 18, 2003.

The assessed value, which includes new construction, for the area has almost doubled in the past ten years. The assessed value for 2003 is $1,765,720,050. In 1994 it equalled $890,015,518. New construction equalled $206,053,849 of the $875,704,532 difference.

New construction during the past three years equalled $81,718,464. For the 1997-2000 period it equalled $54,949,161. For the 1994-97 period it equalled $69,386,224.

Revaluations in San Juan County are done every three years. The county is divided into three areas. Orcas Island, San Juan Island (except the southern portion); Lopez and the southern half of San Juan Island. Various small islands are included in the areas.

San Juan County Assessor Paul Dossett noted the 30.4 percent increase does not mean an individual property increased that much. Some increased more, some less. The reassessments reflect sale prices in the property owner's neighborhood.

An increase in property value means the tax levy decreases. For the revalved area the decrease would be approximately $1 per thousand dollars of assessed value. The figure is an estimate and does not include any new taxes which may be imposed, said Dossett. Several tax increase measures are expected to go before the voters including an increase for Parks and Recreation and for the county current expense.

Assessed value up $345 million

posted 09/19/03
The market increase for property on San Juan Island (except for 1000 properties on the south end); Brown Island; Henry Island; Stuart, Johns, Spieden, Pearl and Dinner Islands increased $345,536,557 or 25.8 percent in the past three years. Assessments were mailed out yesterday (Thursday, Sept. 18, 2003.) New construction equals $81,718,464. The total assessed value is $1,765,720,050.

San Juan County Assessor Paul Dossett noted the 25.8 percent increase does not mean an individual property increased that much. Some increased more, some less. The reassessments reflect sale prices in the property owner's neighborhood.

San Juan Island property value increases 29 percent

posted 10/28/00
Property value in San Juan Island increased 29.18 percent since 1997 according to revaluation figures released Friday, Oct. 27 by county Assessor Paul Dossett. The increase is 10 percent less than the 40.28 percent Orcas islanders faced in 1999. Dossett thinks it may be due to Orcas Island's hilly nature which results in more view property there than on San Juan Island.

San Juan Island property owners will receive their 2000 assessments in the mail late next week. Not counting new construction, property value increased 23.46 percent.

Property value is revaluated every three years. The 2000 reassessment includes San Juan Island (except for the south end); Friday (Brown) Island; Henry Island; Stuart, Johns, Spieden, Pearl and Dinner Islands.

The Orcas Island revaluation also includes Waldron, Obstruction, Wasp, and Sucia islands.

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