Overall property value increases 5.5% in Snohomish County

EVERETT — The housing market is up yet again in Snohomish County, according to an annual assessed values report, but the increase is the lowest in years.

Countywide, property value grew 5.5% overall. Residential property values increased 5.4% and commercial properties saw a 5.7% bump. Assessed-value notices were mailed by the county assessor to property owners on Tuesday. They are used in calculating next year’s taxes.

“It is reflective of what the sales show us,” Assessor Linda Hjelle said. “We analyze all the sales in Snohomish County over the year, and this is what the results come out to be.”

Following banner years of increases of greater than 11% in 2017 and 2018, total property value increases have been more modest in the years since. This year’s increase is the lowest since property values decreased by 5.8% in 2012.

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