Median condominium property values rose in 2020 throughout King County, with the largest increases occurring in south and east county communities.<\/p>\n
Median value increases were up 9% in South King County, the largest jump in any area, according to a July 15 news release from King County Assessor John Wilson. The median value jump was 8.4% in the northeast part of the county from Kirkland to Woodinville and Duvall.<\/p>\n
The King County Assessor’s office is in the process of mailing annual property valuation notices to taxpayers. Notices to condominium owners will be arriving across the county soon.<\/p>\n
Each year, county assessors set values on every commercial and residential property value in the state. These values – set effective as of Jan. 1 by state law – are then applied to the next year’s tax bill. Property values are being set as of Jan. 1, 2021, for taxes due in 2022.<\/p>\n
Data indicates that home sale prices and overall home values have risen sharply in most King County neighborhoods, despite the economic impacts of the COVID-19 pandemic.<\/p>\n
“No one knew what to expect a little over a year ago when this public health emergency began,” Wilson said. “Now it is clear that a primary impact on property values has been caused by homeowners not wanting to sell at this time, leading to reduced supply and big price and value increases.”<\/p>\n
Condo median value increase<\/strong><\/p>\n • Capitol Hill 3.8%<\/p>\n • Downtown Seattle 2.2%<\/p>\n • Queen Anne\/Magnolia 3.8%<\/p>\n • I-90 corridor (Renton to Snoqualmie) 7.1%<\/p>\n • Northeast (Kirkland to Woodinville, Duvall) 8.4%<\/p>\n • Northwest (Ballard to Northgate) 3.2%<\/p>\n • South Seattle 3.9%<\/p>\n • South King County 9.0%<\/p>\n","protected":false},"excerpt":{"rendered":" Highest median value jump of 9% in South King County <\/p>\n","protected":false},"author":106,"featured_media":50728,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,24],"tags":[],"yst_prominent_words":[],"class_list":["post-50727","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home2","category-northwest"],"_links":{"self":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/posts\/50727"}],"collection":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/users\/106"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/comments?post=50727"}],"version-history":[{"count":0,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/posts\/50727\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/media\/50728"}],"wp:attachment":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/media?parent=50727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/categories?post=50727"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/tags?post=50727"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/yst_prominent_words?post=50727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}