Property Tax Lawyers in Lake Forest Park

Laws of Lake Forest Park, Washington require all property owners to pay a tax on the value of their property. Property taxes only apply to real property (as opposed to personal property). This includes land, buildings, and assets that are permanently or semi-permanently adhered to the land.

The property tax in Lake Forest Park, Washington is simply a percentage of a piece of property's appraised value, paid to the state and/or local government on a periodic - normally annual - basis.

The federal government almost never imposes property taxes directly. Property taxes are collected nearly exclusively by state, county, and local governments.

How Property Tax is Calculated in Lake Forest Park, Washington

Lake Forest Park, Washington property taxes are normally calculated as a percentage of the value of the taxable property. Rates vary widely across the country, normally ranging from less than 1% at the low end, to about 5% at the high end.

To collect the property tax in a fair and consistent manner, Lake Forest Park, Washington tax authorities need to have an objective formula for determining the value of land under its jurisdiction.

Value, in some ways, is not an objective thing. For example, your childhood home is probably worth much more to you than its simple market value. However, the tax authorities use only objective factors in calculating a home's taxable value.

With that in mind, the land appraisers in Lake Forest Park, Washington look at several factors, including the state of the local real estate market, the square footage of the house, and the permissible use (zoning) of the land.

How A Lake Forest Park, Washington Property Tax Attorney Can Help.

Lake Forest Park, Washington's property tax system is somewhat convoluted. Legal disputes arising from property taxes can arise in a number of ways. For instance, the state might accuse a homeowner of failing to pay their property taxes, when they really have. Conversely, a homeowner might believe that the value of their property was appraised inaccurately, resulting in a higher tax bill.

If one of these contentions affects you and your property in Lake Forest Park, Washington, you should make every effort to properly handle it. This can prevent small issues from growing into large ones. The best way to do this is to seek the advice of a brilliant Lake Forest Park, Washington tax attorney who specializes in property tax law.