Washington StateProperty Valuation Requirements

All real and personal property are subject to tax unless specifically exempted by law.

Certain qualified lands (Open Space, Farm & Agricultural, and Timberlands) may be valued and assessed on the basis of their current use rather than at their highest and best use.


How Is The Value Of Real Property Determined?

In Washington State, assessment for tax purposes means establishing the fair market value of your land and the improvements thereon.  This is the job of an appraiser.  Appraisal methods used in Mason County follow basic practices and procedures used in the appraisal profession.

Three approaches may be used to determine real property value:

Market: The market data (sales comparison) approach.

Cost: The reproduction or replacement cost new, less accrued depreciation.

Income: The income or capitalization of economic rents approach.

The market and cost approaches are the basis of appraisal of improved residential properties.  All three techniques are applied, if appropriate, in appraising improved commercial and industrial properties.  The value of vacant land is most often determined using the market approach.

Whenever the assessor revalues your property, you will receive a "Change of Value Notice."


How Often Does Mason County Appraise Property?

Mason County appraises all parcels yearly.

Mason County is organized into six (6) physical inspection areas.  One sixth (1/6) of the county is physically inspected per year, while the other five sixth (5/6) is adjusted per statistical analysis, based on county wide property sales. 


Does the County Assessor Have The Right To Access Your Property?

Yes, the County Assessor does have the right to access your property in order to make an inspection for valuation pursuant to RCW 84.40.025.