Valuation Notices for 2027 Property Taxes Reveal Market Trends
The Spokane County Assessor’s Office recently mailed more than 214,000 real property valuation notices for the 2027 property taxes. Along with the annual assessment notices, the Assessor’s Office also tracks market trends. According to County Assessor Tom Konis, residential values increased overall by +.86 percent and commercial property values increased overall by +.69 percent (see page 2). “Every year it’s a mix of increasing and decreasing values based on a wide variety of market factors, from mortgage rates to office vacancies in the downtown business district,” Konis said.
The assessed value of the property identified in the notice is the amount on which the 2027 property taxes are calculated. Property assessments reflect the values as of January 1, 2026, and are determined by analyzing real estate sales in 836 statistical neighborhoods.
Assessed property values are provided to the 54 taxing districts to assist them in finalizing their levy requests that are turned in by the end of November. The Assessor finalizes property values in December and certifies the levy rates and the amounts are sent to the County Treasurer’s Office in January. You can see the estimated property tax for 2027 based on the new value at: https://www.spokanecounty.gov/5769/Tax-Transparency.
Spokane County Assessor Tom Konis said, “The residential real estate market appears to have calmed down in most areas. Additionally, land is in high demand and prices continue to rise. We are seeing some price increases in mobile homes on leased parcels, likely due to their affordability.”
For questions about assessments, use the email address that is printed in the middle of the Assessor’s notice, below the new valuation information. The phone number of the appraiser assigned to the property is also listed on the notice.
Residential Trends – Overall increase of +.86%
- Single Family Valuations increased: +.83%
- Duplex Valuations decreased: -.15%
- Condo Valuations increased: +.11%
- Mobile Home-with Land Valuations increased: +2.31%
- Mobile Home-Leased Valuations increased: +2.35%
- Vacant Land Valuations increased: +6.8% (mainly due to the scarcity of quality building sites.)
Commercial Trends – Overall increase of +.69%
- Downtown Spokane Office Valuations decreased: -4.09% (larger office complexes were decreased at a higher rate.)
- Overall Office Valuations decreased: -1.33%
- Medical Office Valuations increased: +5.59%
- Apartment Complexes in downtown Spokane decreased: -5.64%
- 3-4 unit Apartment Complexes decreased: -.27%
- 5+ unit Apartment Complexes decreased: -2.32%
- Storage/Warehouse properties increased: +2.08%
- Undeveloped Vacant Land, including Residential increased: +6.67%
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