Kitsap County Assessor's Newsletter September 2023

September 2023

Thank you for subscribing to the Assessor’s Office newsletter.  The goal of this communication is to provide informative and educational content to as many Kitsap County residents as possible.  Please reach out to the office if there is a specific topic you would like to see addressed in a future edition.  Phil Cook Kitsap County Assessor

Do you qualify for a Residential Improvement Exemption? If you are planning to make an improvement to your home, you may be eligible for a three-year property tax exemption on that improvement.  You will need to apply with our office prior to the completion of construction.  If approved, the taxable value of your home will not include the improvement value for three years.  At the end of the exemption, the value of the improvement will be added to the value of your home. More information as well as the application are available on our website at Residential Improvement Exemption (kitsap.gov)

Housing market update

2023 has seen a flattening of the average sales prices of single-family homes within Kitsap. In 2022, the average sales price of a SFR was $658,536 through 2023, the average sales price of a SFR is $653,774 or down less than 1% over all of 2022.  It will be interesting to see how the rest of 2023 goes, especially since the summer months are traditionally the “buying season” for real estate. The chart below is through July, 2023.

What is a boundary line adjustment and why would you want to do one?

When you purchase property, you are buying a legal description that places it in a specific place on the ground. If a survey has never been done there may be a difference in what you think you own and the actual location of your property.

A boundary line adjustment can be used to make the legal description match what you actually occupy, this is especially helpful if you find out that your house or other feature of your property is sitting partially on your neighbor’s property or vice versa.

Here is a link to some basic information about doing a boundary line adjustment (PDF): Steps for Completing a Boundary Line Adjustment (kitsapgov.com)

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assessor@kitsap.gov • 360-337-7160