The 2022 Change of Value Notices were mailed September 30, 2022. State law requires County Assessors to appraise every property annually, with an effective assessment date of January 1st for most properties, and July 31st for new construction. Change of Value Notices are not tax bills, and an increase in value does not mean a proportional increase in property tax.
The Assessor must value all property in Whatcom County at full market value, per state law. Sales from 2021 were analyzed to develop an assessed value as of January 1, 2022. The market continued to appreciate through 2021 for most locations and types of properties, which is reflected in the January 1, 2022 assessed values. Total Assessed Value in the county increased to approximately $51 billion, which is a 25% increase from 2021, and includes approx. $590.7M in new construction value.
Every year, 1/6th of properties in Whatcom County are physically inspected and reassessed. In 2022, the Assessor’s Office inspected Blaine, Birch Bay, Point Roberts, and areas west of Ferndale. These properties were brought to market, with a wide range of percentage changes.
The remaining 5/6th of the county properties are adjusted based on a statistical update, from analysis of sales of similar properties. Increases in values of single-family residential properties ranged from 15-45%, with a median of approx. 25%. Multifamily and commercial properties throughout the county saw significant increases as well.
Additional information can be found on the 2022 Assessor's Report that can be viewed here.