Property Tax Alert: Washington

May 2005

Property that is destroyed and property that is reduced in value by 20% by a natural disaster after the assessment date may now be abated in the year in which the destruction or damage occurred. Prior to amendment, the law provided that such a reduction would no longer be applicable to taxes levied for collection in 2005 and thereafter. The amount of the tax reduction is proportional to the time remaining in the year after the destruction or damage occurs. The natural disaster area may be declared by the county legislative authority (formerly, only by the governor). The tax relief does not apply to property damaged or destroyed voluntarily.

Please contact Rash & Associates for more information.