SALES-RATIO-ANALYSIS

ISLAND COUNTY ASSESSOR'S OFFICE - SALES ANALYSIS

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Assessment-to-Sales Ratio Analysis

An Assessment-to-Sales Ratio study is the international standard for determining the reliability and accuracy of a mass appraisal.

Assessment-to-Sales Ratio Analysis for the 2009 Assessment Year

This report indicates that the Island County Assessor;'s Office fell well inside the accepted parameters for assessment level and uniformity in 2009. As a rule, higher values result in lower tax rates and lower values result in higher tax rates.

The 2009 assessment will be used to calculate the 2010 tax rate and distribute the taxes among the individual taxpayers.

Comparison of Assessemnt-to-Sales Ratio Studies with Other Counties in 2008

This Washington Department of Revenue (DOR) website shows statistical comparisons for all counties in the state. They use a random sample of sales and assessment data to generate these reports.

Because the data is collected and compiled by the DOR only after the levies for a particular county have been set, the most current data is always at least a year old.

Recent Sales Trends:

To keep the taxpayers better informed, our office is providing this regular update of general sales trends in Island County. It will be updated each month, providing some of the same analysis of sales trends that our appraisers review on a continuing basis.

Sales Trends from Jan 2004 through September 2009

SALES PRICES:

Since the January 1, 2009 assessment date, sales prices have continued to decline in Island County. Sales prices have dropped about 9% since the first of the year. This decline, should it continue, will translate into an annual rate of about 13%.

SALES VOLUME:

Although the number of sales is up since January of 2009, they are still below the record low number of sales set in 2008 for the same months. The increase in the number of sales since January 1st represents the typical pattern observed annually; the number of sales in any particular year tends to peak in the summer and reach their lowest point in the winter. This phenomenon can be observed by clicking on the link to the Sales Trend Chart above.

Updated: 10/1/2009

Daniel C. Jones, Appraiser Statistician

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