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Home Remodeling Tip - Avoid an Instant Property Tax Increase When Remodeling Your Washington Home

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

Featured Homes:
Vancouver Camas Washington Homes

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!

To View all Vancouver Washington Real Estate & Homes For Sale click here and then click on the Vancouver Home Search options of your choice! Our Expertise is knowing Vancouver and Clark County Washington and will help you get your home properly on the market and Sold if you need to Sell your home. We'll help You Buy Your Vancouver Home!

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.

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Vancouver & Clark County Market Report Links:

Clark County WA Real Estate Market Report for November 2009
Vancouver WA Real Estate Market Report for the month of November 2009

Posted by Alexander-Slocum REMAX Team - Vancouver WA Real Estate on 09/29/2007 11:42 PM

Comments (5)

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5 Comments on Home Remodeling Tip - Avoid an Instant Property Tax Increase When Remodeling Your Washington Home

SEP

2007

Im in Washington State. Thanks for that news. Good info!

Hi Alexander,

Thank you for the great post, very informative.. Good Luck!!!!!!!!

Anthony

A three year wait is wonderful! Hope we can get that enacted here.

Rob

SEP

2007

excellent information. This is just the sort of information which shows your clients that you are more than 'just an average' Real Estate Professional.

OCT

2007

Jason, Anthony, Rob and Alan,

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.

John

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