Hello avoss1-ga,
The state of Washington annually assesses real estate for protperty
taxes based on its "likely selling price". This is done as of a
specific date in the year as it would be nearly impossible to obtain
such a value on a more frequent basis.
Each piece of property in the state is assigned a Parcel Number, which
is typically tied to an address, so this is the first thing we need.
The King County website contains a feature which allows you to look up
parcel numbers based on address information, as well as a map of the
property in relation to surrounding properties and streets:
http://www.metrokc.gov/gis/mapportal/PViewer_main.htm
At the link above, I searched by Address, and then entered the
following information:
House Number: 6911
Street Name: 94th
This yielded a single parcel result matching the address provided:
Parcel Number: 1845500070
Address: 6911 94TH AV SE
Zipcode: 98040
Associated with this parcel was a Property Report, which you can access at:
http://www5.metrokc.gov/reports/property_report.asp?PIN=1845500070
The property report yields the information you requested:
Tax Year 2005
Appraised Land Value $300,000
Appraised Improvement Value $260,000
So since the approximate market value of this property for the current
tax year is the sum of the values given for land and improvements, the
market value of the property is $560,000.
An interesting additional piece of information is that this is the
same appraised value for the 2004 tax year, which means that the
property's value has not changed in the past year (a sign of a stable
local market).
I hope this was helpful - if you have any problems understanding any
of the above information please post a clarification request.
Cheers!
answerguru-ga
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