King County Assessor Lloyd Hara joins Councilmember Patterson in District tour

July 23, 2010

Summary

Story

Metropolitan King County Councilmember Julia Patterson and King County Assessor Lloyd Hara toured Council District 5 July 20, visiting residential and commercial properties and discussing the appraisal and tax assessment process.

The tour focused on two areas of Patterson’s district: residential neighborhoods in SeaTac and Des Moines, and commercial areas in the Green River Valley.

“Residents and businesses in District 5 are eager to understand how the property assessment process works and what external factors influence their property values,” said Patterson. “After taking this tour with the Assessor and his staff, I am much more aware of how this process works, which allows me to better serve my constituents when they contact me with questions.”

Neighborhoods in SeaTac and Des Moines are close to schools, parks, shopping districts and transportation infrastructure, such as SeaTac Airport and light rail. This keeps homes in demand and at market value, while also keeping prices affordable for all income levels. The median price for single family home in SeaTac is $284,975, compared with $375,000 for all of King County.

In the Green River Valley, the fifth largest industrial center in the nation, close proximity to major freeways, rail lines and two ports makes commercial real estate a premium. Although the economic downturn and the potential flood threat in the valley have had some effect on vacancy rates, these rates have fallen from 8.7 percent in 2009 to 7.9 percent in first quarter 2010.

“I am appreciative of Councilmember Patterson’s level of engagement with the Department of Assessments” said Assessor Lloyd Hara. “Each year, our staff assesses over 663,000 real property parcels and 80,000 personal properties throughout King County, while providing timely responses to inquiries from King County property owners. It is important that we fairly and uniformly appraise all properties to protect the citizen taxpayers.”



Councilmember Patterson and County Assessor Lloyd Hara on tour in District 5