Appraisal Department
State law requires assessors to value property at 100% of its true and fair market value in money, according to the highest and best use of the property. All real and personal property is subject to tax unless specifically exempted by law.
Helpful Information
Real Property:
Real property is land and any improvements, such as buildings, attached to the land. The assessor values real property using one or more of three professional appraisal methods:
- Market or sales comparison method uses sales to provide estimates of value for similar properties.
- Cost approach considers what it would cost to replace an existing structure with a similar one that serves the same purpose. The cost method is also used in valuing new construction.
- Income method is used primarily to value business property when the property tends to be worth its income-producing potential.
Most residential property is valued by using the market or sales comparison method. An individual sale does not automatically establish the value of a property. The assessor uses multiple sales to establish market value.
Personal Property
Personal property's primary characteristic is its mobility. It includes machinery, equipment and furniture associated with commercial, industrial or agricultural enterprises. Business inventories are exempt from property tax.
Everyone who uses personal property in a business must complete a personal property affidavit by April 30 each year. The affidavit must list the taxable property by category, as well as its cost and acquisition date. The assessor uses the affidavit to value personal property for taxes due the following year. Personal property tax rates are the same as for real property.
Property Value Changes
Assessors must revalue real property in Lewis County once every four years. After determining the value, the assessor mails property owners a "Change of Value Notice." The notice states the new and the old values. By comparing the two values, property owners can tell whether their property has increased or decreased in value. The notice also breaks down the value between land and improvements.
Click on map to access individual revaluation area maps. Valuation notices are NOT tax bills! An increase in value does not mean that next year's property taxes will increase at a proportionate rate.
Appeal of Assessed Value
You may contact the assessor's office to review your valuation any time you have a question about your property value. Property owners can often settle disagreements at this level without filing a formal appeal. If you are not satisfied, you may file a written appeal with the County Board of Equalization.
The completed petition must be filed by July 1 of the assessment year or within 30 days of the date the change of value notice was mailed, whichever date is later. Appeal forms are available from the Clerk of the Board of Equalization located in the Lewis County Commissioner's office.