Snohomish County property values soar as housing market heats up

Home values in Snohomish County are up 32% on average, according to a Jan. 1 revaluation from the county assessor’s office.

“The Assessor’s Office is charged with determining the value of property in Snohomish County,
and we have a team of professionals who work hard to be accurate and thorough,” said
Snohomish County Assessor Linda Hjelle. “We know that the housing market has been pushing
ever higher and our valuations reflect that growth.”

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Assessed valuations reflect real estate sales values and the Snohomish County market has
been highly active. Northwest Multiple Listing Service shows a median increase in residential and condominium sales price of 27.09% from Jan. 1, 2021 to Jan. 1, 2022.

Hjelle said she has never seen increases this high in her 33 years with the assessor’s office. She also stated taxes don’t necessarily increase because of higher assessed values. Taxing districts’ budgets and recent voter-approved measures determine how much tax is collected.

“I’m trying to reassure people they are not going to see a 30 to 40% increase in their taxes because the value has increased that much,” she said.

In 2021, there was an 11% increase in home values on average and a 7% increase in taxes, or an extra $331, according to the assessor’s office.

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