As assessments jump, King County homeowners brace for soaring tax bills 

Pamela and Michael Nugent got a shock when the King County assessor told them their Renton home is worth $154,000 more than it was valued at last year.

That’s a 43 percent increase in assessed value in a year when the median Southeast King County home price has dropped 9 percent.

The Nugents, both retired from Boeing, are wondering how the assessed value of their home could go up so much in a distressed real-estate market.

They’re also worried that, for the second time since they bought the house on Benson Hill in 2004, their property taxes may go up by more than $1,000 in a single year.

“Who’s running this ship?” Pamela Nugent said. “I just don’t understand the logic in these valuations. I have a business degree and I just don’t get it.”

The Nugents aren’t alone.

Since the assessor began mailing out valuation notices in May, more than 1,800 homeowners have filed appeals with the Board of Equalization — compared with 750 at this point last year — and appeals are on pace to set a record, said board clerk/manager Dave Goff.  Continued…  As assessments jump, King County homeowners brace for soaring tax bills  -Keith Ervin, Seattle Times

Mike Rozell ~ Realtor / Real Estate Agent ~ www.MyLifestyleRealtor.com