Washington Real Estate Tips: Home Owners Remodeling Their Property
Can Save on Their Property Taxes! By Following the Rules You'll be able to take advantage of this great program!
Washington Real Estate
Ownership Tips: Remodeling & Property Taxes
We encourage our clients with existing homes
that may have dated or obsolete elements to consider updating and
remodeling both improve the livability for themselves and to improve
their equity and resale value when it is time to sell.
More than once we've heard something to the effect that: " once we
do that the Assessor will increase the assessed value and tax us
more each year!" True, it is hard to argue that the Clark
County home values have gone up considerably in the past few years,
and the Assessor's Office has worked hard to keep up with that.
However, a new candidate for the Clark County Assessor's Office,
Bill Jameson
has pointed out that the Washington State Legislature has enacted
RCW 84.36.400 which provides
that the remodeled home's value cannot be increased due to the
remodel activity for three (3) years. Here are the key
guidelines:
1) The Homeowner must apply for the exemption using State Provided
Forms prior to beginning the project.
2) The Improvement must not represent more than thirty-percent
(30%) of the value of the original structure.
3) The exemption cannot be claimed more than once in a five (5)
year period.
Mr. Jameson is trying to get the word out on this and other ways
homeowners can rightfully save on their property taxes, and we thank
him for pointing out this one to us.
If you or someone you know is thinking about remodeling and worried
about a tax increase,
please review this report and ask: "Why Wait?"
Feel free to contact us with any questions you
may have regarding this opinion.
Kathryn Alexander & John Slocum, Alexander
∞ Slocum Real Estate Team
Contact Kathryn Alexander and John
Slocum, Alexander ~ Slocum Team Realtors®, RE/MAX equity group, inc.
Licensed Real Estate Agents and Realtors® in the State of Washington
at 360-241-7232 or 888-525-5528 ext 81 to list your property for
sale or, to purchase a property in Vancouver, Camas - Washougal,
Felida, Salmon Creek and the rest of Clark County Washington.
We're your referable RE/MAX Realtors® in Vancouver Washington!
Disclaimer: The information provided is from various sources and
deemed reliable but subject to change without notice.
PS -- Are you in a Must-Sell
situation for your home in Vancouver Washington or Camas Washington
make certain you hire an agent team that will get your home priced
right, work with you to get it Prepped and Staged, and deliver
world-class marketing to get it Sold. We are delivering
successful Express Home Sale Packages. Call us today at
360-281-4150 to find out more about Vancouver Express Home Sale
options.
excellent information. This is just the sort of information which shows your clients that you are more than 'just an average' Real Estate Professional.
Thanks for the comments. I hope we can get more homeowners here to take advantage of this great program; and hopefully other States will enable similar programs for their constituents. I see this as a great incentive tool for homes and neighborhoods to renew themselves over time.
Vancouver Washington Real Estate and Home Information Resource for home owners,
home sellers and home buyers in Vancouver Washington. We also cover other Clark County Washington areas including
Camas, Battle Ground, Ridgefield, Brush Prairie, La Center and Washougal.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
;)
;)
