BILL REQ. #:  S-1941.1 

Read first time 02/23/09.   Referred to Committee on Government Operations & Elections.

     AN ACT Relating to requiring revaluations of real property by county assessors when there is a certain percentage reduction in county median home prices; and amending RCW 84.41.030.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

Sec. 1   RCW 84.41.030 and 1996 c 254 s 7 are each amended to read as follows:
     (1) Each county assessor shall maintain an active and systematic program of revaluation on a continuous basis, and shall establish a revaluation schedule which will result in revaluation of all taxable real property within the county at least once each four years and physical inspection of all taxable real property within the county at least once each six years. Each county assessor may disregard any program of revaluation, if requested by a property owner, and change, as appropriate, the valuation of real property upon the receipt of a notice of decision received under RCW 36.70B.130((, 90.60.160,)) or chapter 35.22, 35.63, 35A.63, or 36.70 RCW pertaining to the value of the real property.
     (2) If a county has a reduction in median home prices of ten percent or more during an assessment year, then all properties in the county must be revalued prior to assessments being issued for the same assessment year.