If you own property in Kitsap County, keep an eye on your mailbox! Change of Value Notices were mailed late June 2026 and many homeowners have questions when they receive one.
The first thing to know is this: A Change of Value Notice is not a tax bill. Instead, it’s a notification from the Kitsap County Assessor’s Office informing you of your property’s new assessed value, which will be used to calculate your 2027 property taxes.
What Does the Kitsap County Assessor Do?
The primary responsibility of the Kitsap County Assessor’s Office is to determine the assessed value of all taxable real and personal property in the county. Washington law requires the Assessor to value property at 100% of its market value for property tax purposes (RCW 84.40.030). These values help establish levy rates for the various taxing districts and ensure that property taxes are distributed fairly among property owners.
To determine value, the Assessor’s Office uses a combination of:
- Physical property inspections
- Analysis of recent real estate sales
- Market trends
- Property improvements and characteristics
Washington State law also requires every property to be physically inspected at least once every six years, with annual updates based on neighborhood sales and market analysis.
Market Value vs. Assessed Value: Why They May Be Different
This is one of the most common questions homeowners ask.
Click to watch a video re: the difference
“Why doesn’t my assessed value match what my home is worth today?”
The answer comes down to timing:
Fair Market Value is the price a willing buyer and seller would agree upon in today’s real estate market.
Assessed Value is the Kitsap County Assessor’s estimate of your property’s fair market value as of a legally required valuation date. Washington law requires all taxable property to be assessed at 100% of its true and fair market value, but that value must be established using a specific timeline for property tax purposes.
For the Change of Value Notices mailed this summer:
- Your property’s value is determined as of January 1, 2026.
- The Assessor analyzes sales that occurred before that date to estimate what your property would have sold for on January 1.
- Property owners are then notified of any value changes and given an opportunity to appeal.
- Those values are later certified and used to calculate 2027 property taxes.
By the time property tax statements are mailed and taxes are due, the assessed value may already be 16 months old, and it may have been developed using sales data that is up to 28 months old.
Meanwhile, if you hire a private appraiser to refinance or sell your home, that appraiser is typically using sales from the previous three to six months to determine your home’s current market value.
Because the two valuations are based on different points in time, it’s common for them to be different.
The Kitsap County Assessor uses a great analogy. Imagine a roller coaster.
- Today’s market value is the front car. It reaches the top of the hill—and starts heading down—first.
- Assessed value is one of the cars behind it. It follows the same path but reaches each point later because it is based on an earlier snapshot of the market.
In a rising market, today’s market value is often higher than the assessed value.
In a declining market, today’s market value is often lower than the assessed value.
The difference isn’t because the Assessor is using a different valuation method—it’s because the Assessor is required by law to value property as of a specific date in time.
Does a Higher Assessed Value Mean Higher Taxes?
Not necessarily.
Your property’s assessed value determines your share of the tax burden, but your property tax bill is also influenced by:
- The budgets of local taxing districts
- Voter-approved levies
- Levy limits established by Washington law
- The assessed values of other properties within your taxing district
That’s why two homeowners may see similar increases in assessed value but experience different changes in their property tax bills.
Didn’t Receive a Change of Value Notice?
That’s actually good information.
If you did not receive a notice, your property’s assessed value has not changed from the previous assessment year.
What If You Disagree With the Value?
If you believe the assessed value is incorrect, don’t ignore the notice.
You have 60 days from the date shown on your Change of Value Notice to file an appeal with the Kitsap County Board of Equalization. Before filing, the Assessor’s Office encourages property owners to contact them to discuss the valuation and ask questions. Many concerns can be resolved simply by reviewing the property’s characteristics and the data used in the valuation.
How to Review Your Property Information
Homeowners can review their:
- Assessed value
- Property characteristics
- Parcel information
through the Kitsap County online Parcel Details tool. The Assessor’s Office also provides a short educational video explaining the difference between market value and assessed value in Washington State.
Click to research your property
The Bottom Line
Receiving a Change of Value Notice can be surprising, but it’s simply part of Washington’s property tax assessment process. Understanding how values are determined—and how they differ from your eventual tax bill—can help eliminate confusion.
If you have questions about your notice, your property’s value, or the appeal process, the Kitsap County Assessor’s Office is available to help. And if you’re curious about how your home’s value compares to today’s real estate market, your local real estate professional can provide a current market analysis that reflects current buying and selling conditions.
Source: Kitsap County Assessor https://www.kitsap.gov/assessor/Pages/default.aspx