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Ken Madsen Pierce Count Assessor-Treasurer I

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Ken Madsen ierce County Assessor-Treasurer

Fair and Equitable Property Values .

1 Assessed Value $194, I L - Sale Price $230,000 October 2002 YB 1991 4bd

2 Assessed Value $1 77,300 Sale Price $205 000 November 2002 YB 1991 3bd

3 Assessed Value $184,700 Sale Price $220,000 A ri1 2002 YE 1991 4 bd

4 Assessed Value $180,400 Sale Price $2 1 5 000 December 2002 YB 1991 3bd

5 Assessed Value $1 57,3 00 Sale Price $176,000 Se tember 200 1 ~ & 9 9 1 3 bd

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10,737 Total Sales

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L

ierce Count Assessor-Treasurer - , .. I

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. What Are Your Taxes Used For-! I

Peninsula Metropolitan Park 0.18%

Anderson Island Park & Rec

Tacoma Metropolitan Park East Gig Harbor Water State Schools

Fire Protection Districts

Port of Tacoma

Cities & Towns Rural Libraries 38.03% 11.16% 2.04%

Pierce County 1 r 10.50%

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Tax 7 - ' Year i _ j , a G a b l e Value , Tax Rate . : -2 ':, ' General - 2

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, a , Fund Rev . I 2002 1 1,587,717,038 3.421 0 . 39,641,580 -*-

? . - . 2003 , , . 1 1,824,449,244 3.4604 , 40,769,518 2004 12,455,912,51 5 I,r ;3.3495 --, -r 41,643,092 -. 2005 13,212,370,610 3.2394 $ 42,713,497 - >

, 2006 15,739,885.099 2.7926 * ' 43,865,055 '> 91 -7

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Taxable Value vs Exempt Value

Pierce County 2005 Total Property Value

$73,193,998,281 2005 Exempt Value

$9,238,150,840 13%

2005 Taxable Value

City of Tacoma 2005 Total Property Value

$20,088,099,926 2005 Exempt Value

$4,348,214,827 22%

2005 Taxable Value $1 5,739,885,099

78%

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I Senior & Disabled Property Tax Exemption ~

NEW INCOME CATEGORIES

I FOR SENIORS &DISABLED PERSONS. 1

CWI MCI' w AN tmm. AML(AII.IO rfn nmm1!s m(m.~

Category A: $25,000 or less .: ~ ~ o l ~ x ~ ~ ~ r s s ~ p m n

Category B: $25,001 - $30,000 Lp --

Category C: $30,001 - $35,000 ~IIU~J ~ a c E a ~ = w i t h v ~ r ) . i n p , J ~ ~ ~ by inmw. nurrare thrff . : a l ~ i l fin-cmnt~ ,c,:

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VEW INCOME CATEGORIES

CabgO~y A: P5,000 or lass cshgoty 8: 12$0ol - 90.000 c.lapoty c: 590,001 - 13$000

56 SEND ME AN APPI.ICATlON FOR A S6MOK 0117ZW IK DISARLBD P6K50N PROPERlY I'AX 6XEMPnON

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Pierce County Assessor-Treasurer . 5J, -: 8 L - * -- . - C 8 ..I.,. +< -

r -1 nf '3-Year Hol e Improvement Exemption

I-YEAR HOME IMPROVEMEN?

EXEMPTION. Ekmdeling is a good thing. It makes living in tur home more enjoyable. Boosts the slp value wkn wu mole And stimulates\

easurer to exempt the added Glue of your )me improvements for three years.

DocoThisFFeue%ur Roperty Value?

N a T b f a c t I h a t a d ~ b &vul a hunt hnprwenwnt e x c m ~ d a r ~ c d u r r ~ v r l u p m ~ f ~ d w i n g h p r l d d c h r aemptkm Tb pmpory nntlnues to be malued almg with dl odw pmperlks In the county. Afar lhc thmv+arelrmptionupim. chr

How Do You Apply? What PmpettyQtdih? I &&apatjo.~mnnad Prior tocompkllan of the MY si+famtIy dwelhpam c ~ w t s g w 1 8 1 y ~ l y iicun& to t~npmvcmmh. an approved daim ~ h r l t r ~ r ~ b x thedwcllq furm must be W \ r . , t h the -P

m p m A ungk iamtly d+ N a filaludd arr swtmming TR~LUWC When Ik Ilnpmvmmts ei idommdcpndmtaad ad* povk kmnp, Lndxapmg. rhrb, amwmpien, vtw nlut dm8 submit o udtwstrw+urennbuwqz~~e sIq.aohslhaathatnuycdwm "iHm ~ l~dcvn lpk t t cm.Yo t~wd l dl4 unit. I t muabbe maiuincd 1 uxd a. ddential dwelling igned exduplrdy l0rcm-upam-y nn mly. F o r h pur~~edthkexrmpUa~, unufactured home. mobile m or park m&l trailer that b m,m$ fixed Wllh u1ilil)l xn*e d m %'ill b r c m d h i d a singk dly dwrlling.

hat ltnpmvements Qualify? Any additill~on mnodcrl, mnora- I ~ ~ ~ N C N C O I &n<rmrnt that mdly lncnavs the ~tnlue of the aing stqle fnntlly dwelliw is ddpred a phyakel impmwmnt 1 blhref0XV deb?. b O ~ l e ¶

lude the addltion of hrdnmnls. hroosw. u W g mom* family

hc\-alue of the p m ~ b i t uc nul attached m e r n d l y rrcognized ds a s m ~ l n l part of chr home

H o r n repalm and deferred d n b l u m du rrot quai@

What Are- Fxemption Li~~liIations?

T h e ~ a l m s t d l m p ~ ~ not the b l u r dwempnon.The amount s t h e d 1 f 6 e m u ~ h e rtwrlling's truc a d Plr value before andatlaany qud~fymg~poycmmt unladc ThFellrmp(uonantamtc~mr awed thiztypmnt of t k .hc.alur of the dxdhqtnul ~llrluding the value of the unddylng land) before Impmwmenb. ThnexrmpUun may m k d a h d m l h c u a ~ d w d i i n g num thanuace~na fiveyedrpnod

b MHfied ~fyour Imnpmmmn qualify for the memptim.

Claim iormsmay k obWned at the - -Tmm'r llfficr Imh( at 2401 So. 35th S m t , Room 112. Tamnu, W W .

Yau may eho request a form by calling B 3 l iW-5 or by wsitlng w w w , , i r m f w n l ~ ~ ~ b .

Ken Madsen, Pbm G..* A ~ r - r ~

Requirements:

. Must be applicant's single family

primary residence

2. Must cause a material increase in value

3. Exemption amount will not exceed thirty

percent of the value of the dwelling

4. Application must be submitted prior to rnmnlotinn nf tho imnrn\~om~ntc

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Effect of Location on Sale Price

j City of Tacoma I 2005 Sales ($)

0 - 214,000 8 214,000 - %,UUU D 343,000 - 472,000

472,000 - 601,000 601,000 - 730,000 730,000 - 859,000 859,000 - 987,000

City of Tacoma m 1

I Interpolated Surface ($1 1

I 6,253 Residential Saler

Pierce County Assessor-Treesurer

I I Map Created on May 9,2006

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