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The chief characteristic of personal property is its mobility.Some examples of taxable personal property are office furniture and equipment, computers, software, store equipment, manufacturing equipment, signs, and farm machinery.Therefore, please note when you receive your Official Assessment Notice in June, the levy rates and taxes will not be calculated until mid-January the following year.
The real estate market tends to be cyclical in nature with highs and lows.
A single sale does not necessarily establish market value.
The following factors are used to determine the assessed value for residential, commercial, and industrial property: - Comparable sales - Depreciated replacement cost - Income approaches The assessor uses mass appraisal methods to appraise approximately 212,000 real property parcels in Spokane County.
In November, each of the 56 Spokane County tax districts establishes a budget and sends their budget resolution to me.
In January, I use the budget resolutions to calculate levy rates to fund those budgets.