Year 2017 Residential Revaluation Report

Transcription

1 Year 07 Residential Revaluation Report Valuation Standards For ad valorem tax purposes, the Pierce County Assessor-Treasurer is required by law to annually list all property as of January st of each year at one hundred percent of the true and fair market value of land and improvements County assessors are authorized to place any property that increased in value due to new construction on the assessment rolls up to August st of each year at the true and fair value as of July st of that year Mass appraisal standards are used to establish assessed values The definition of Mass appraisal is the process of valuing a group of properties as of a given date, using standard methods, and allowing for statistical testing Sales from the previous year(s) are statistically analyzed to establish new land and improvement values and evaluate the accuracy of the assessments Property Records Property assessment characteristic records are maintained for all properties in Pierce County These records are established when parcels or improvements are initially added to the assessment rolls Characteristics such as building square footage, style, quality and condition are used to establish improvement records Improvement records usually include buildings sketches and photos Characteristics such as land size, amenities, and functional issues are collected to establish land records Pierce County is on a six year physical inspection cycle, meaning one sixth of the county is subject to physical inspection each year During the physical inspection cycle, an appraiser observes the property and verifies that the assessor s property characteristic data is accurate When changes are made to pertinent characteristics (examples: new construction, condition changes, demolition, etc) the property is reappraised Location Analysis Pierce County is divided into 8 appraisal areas for the purpose of analyzing sales data and market trends (The county map following the 07 County-Wide Assessed Value Change Report indicates the location of each appraisal area) These appraisal areas are further divided into 7 smaller economic areas They are referred to as Land Economic Areas (LEAs) for land data and Neighborhoods for improvement data LEA and Neighborhood boundaries are identical for residential properties Stratification of sales by appraisal area and LEA/Neighborhood isolates differences in the physical, economic, governmental, and social factors influencing real estate values Land and improvement values are adjusted at the LEA/Neighborhood level to take into consideration these different market conditions After final values are established, sales are analyzed by appraisal area to determine the accuracy and uniformity of the results The results are in the Overall County Analysis of Residential Appraisal Results section of this report The 07 revaluation report is prepared to assist staff in answering questions from property owners regarding value changes It also provides evidence to the County Board of Equalization in support of the assessed values The report summarizes value change percentages, and documents the sales statistics measuring assessment level and uniformity Value change information is presented for the county as a whole, then by appraisal area, LEA/Neighborhood, city, school district and fire district Sales statistics are summarized to provide an indication of the accuracy of the assessed Source: Property Assessment and Administration; The International Association of Assessing Officers; Editors, Joseph K Eckert, PHD, Robert J Gloudemans & Richard R Almy N:\APPRAISAL\STATISTICAL\Revaluation_Reports\07\Residential\Narrative Reports\07 Reval Introductiondocx Page of

2 values for the county as a whole, then by appraisal area and LEA/Neighborhood Revaluation Process The cost approach adjusted by market sales is used in Pierce County to value improved residential property In the cost approach, the replacement cost new of the improvement is first determined Depreciation from physical wear and tear and from functional and economic obsolescence is subtracted from the replacement cost new to determine the remaining improvement value Marshall & Swift cost rates provided by our CAMA software vendor are utilized as the basis for the cost approach The Statistical team determines whether there is a need to adjust construction costs and depreciation tables for any given appraisal year Depreciation is calibrated periodically from sales analysis within Pierce County rather than using Marshall & Swift tables For the 07 revaluation, base June 0 cost rates were trended to June 06 No changes were made to depreciation tables for the 07 revaluation New land rates are developed for areas physically inspected during the revaluation year, based on the land characteristics of sales in those areas Land values are determined by analyzing vacant land sales and residual land values from sold improved properties (Land Residual Value = Sale Price Assessor s improvement value based on time-adjusted cost rates) For the 07 Physical Inspection cycle, land models were developed for the 7 LEA/Neighborhoods of Appraisal Areas 6 (North Tacoma and Ruston), 7 (South Tacoma), and 8 (East Tacoma) See maps for AA boundaries Appraisal staff is behind on physical inspections, so it was necessary to finish inspections from the prior year in AA 0, AA 0 and AA 05 before starting in Tacoma Neighborhoods Due to inspection backlog and time constraints, the 07 land model was not applied to AA 6 8 These areas are scheduled to be inspected for 08 assessments The final step in the reappraisal process involves the market adjustment of land and building values at the LEA and Neighborhood level Sales of improved properties are compared to the values produced by the cost approach The ratio of assessed value to sale price (AV SP) provides the information needed to determine the accuracy of the assessed values Sales ratio analysis is done by adjusting the land and building assessed values of sold properties until an acceptable level and uniformity of the sales ratios is achieved Final land and building values are added together to arrive at the total value of the property Year 07 Assessed Value Changes As a result of the 07 revaluation, changes were made to the assessed values of most residential properties Overall residential assessed values (excluding manufactured homes ) increased an average rate of 9%, slightly more than last year s overall increase of 07% Increases in value can be attributed to a resurgence of the national and local real estate markets driven by low interest rates, a strong economy and housing demand Overall Single Family Residences increased at a rate of 6%; Condominiums at 86%; Multi-family properties (- units) at 8 and Residential Vacant Land at 0% It is important to note that sale and assessed value statistics presented in this report are averages Due to unique market conditions, individual property values may have changed substantially more or less than the average for any given area Assessed values within different cities, unincorporated Marshall and Swift cost rates are provided with our Computer Assisted Mass Appraisal (CAMA) system, by the vendor, Colorado Custom Ware, Inc Marshall and Swift is a nationally recognized provider of cost rates for the appraisal industry Manufactured Home changes will be provided in supplementary reports N:\APPRAISAL\STATISTICAL\Revaluation_Reports\07\Residential\Narrative Reports\07 Reval Introductiondocx Page of

3 areas, school districts, and appraisal areas may also have changed to varying degrees above or below the average This variation is attributed in part to supply and demand factors that differ between areas of the county, due to influences such as proximity to employment centers, freeway access, and housing demand spilling over from King County, etc Neighborhoods or property types with higher concentrations of bank foreclosures and short sales are also likely to experience a slower market recovery Property specific value changes can result from the reappraisal of a property that had been underassessed or over-assessed in previous years Lack of sufficient numbers of sales in past years can create circumstances where assessed values differ from market values As a result, when assessed values are moved to current market levels, significant changes can occur In certain cases, land and/or building values can change significantly more or less than the average As a result of these changes, some properties may have experienced a redistribution of the total assessed value between land and improvements In these situations, it is more appropriate to compare the total change in property values from 06 to the current year It is also important to remember that we appraise property at its fair market value as of January of the assessment year, regardless of the overall change in assessed value that may result Sales occurring between January, 06 and January, 07 were analyzed to establish the January, 07 value Sales from January 07 are excluded from our ratio statistics because market changes experienced since January, 07 are not the subject of this revaluation report Sales in the 07 calendar year will be used to develop the assessments for January, 08 Assessed Value Changes by Property Type and Year The overall change in the assessed value of residential property (excluding manufactured homes ) is indicated in the following chart The previous year s change is also shown for comparison The overall trend is shown at the beginning of the Sales Statistics section The percent may differ from the trend in order to maintain an acceptable assessment level Condominiums 86% 0% Multi-Units (Duplex, etc) 8% 0% Single Family Residences 6% 079% Vacant Land 0% 56% Overall 9% 07% The following tables detail the 06/07 change in the average assessed value of residential property within various geographical areas of the county A map displaying these changes is included after each table The first set of tables indicates the overall average assessed value change for the county, appraisal areas and LEA/Neighborhoods by property type The second set of tables (following the appraisal area map) indicates the average assessed value changes within cities by property type The third set (following the city map) indicates the average assessed value changes by school district and property type The fourth set indicates the average assessed value changes by fire district and property type The percent change is calculated by comparing the aggregate assessed values for each year Certain properties experiencing value changes are excluded from the analysis because the value change is not considered part of the normal market trend Exclusions include circumstances such as boundary line revisions, new subdivisions, changes in use classification and new construction N:\APPRAISAL\STATISTICAL\Revaluation_Reports\07\Residential\Narrative Reports\07 Reval Introductiondocx Page of

4 value added These properties are not included when calculating the average assessed value or the percent change in total assessed value for a given area Key to abbreviations CONDO = Condominium Unit MULTI = Multiple Units ( Units) SFR = Single Family Residence VACANT = Vacant Land N:\APPRAISAL\STATISTICAL\Revaluation_Reports\07\Residential\Narrative Reports\07 Reval Introductiondocx Page of

5 Pierce County Assessor-Treasurer 07 Residential Revaluation Report 07 County-Wide Residential Average Assessed Value Change 06 Avg Assd Value 07 Avg Assd Value $60,58 $9,88 $,0 Average Percent Change 86% 07 Residential Average Assessed Value Change by Appraisal Area App Area 06 Avg Assd Value 07 Avg Assd Value Dollar Change in Avg Assd Value Percent Change 0 $8,9 $6,0 $7,79 76% 0 $65,50 $88,808 $, % 0 $5,68 $78,77 $,59 689% 0 $97,68 $,87 $7,5 5% 05 $6,75 $85,69 $,75 96% 06 $5, $,9 $8,098 05% 07 $96,695 $,68 $7,987 9% 08 $59,9 $87,57 $8,8 0907% 09 $5,855 $75,80 $9,98 96% 0 $87,97 $5,60 $7,69 698% $69,670 $05,09 $5,59 96% $8,55 $79,687 $5, 9% $0,07 $9,7 $9,6 906% $5,7 $78,8 $7,57 085% 5 $0,5 $6,69 $5,75 508% 6 $99,697 $,699 $,00 05% 7 $69,9 $98,66 $9,6 70% 8 $67,57 $9,75 $6, % Averages $60,58 $9,88 $,0 86% 07 Residential Average Assessed Value Changes by Property Type CONDO MULTI SFR VACANT 06 Avg Assd Value $90,59 $7,605 $86,8 $77,0 07 Avg Assd Value $8,067 $,865 $,6 $85,98 $7,7 $9,60 $,0 $8,99 Avg % Change in App Area Avg Assd Value 858% 78% 6% 97% Page

6 Pierce County Assessor-Treasurer 07 Residential Revaluation Report 07 Residential Average Assessed Value Changes by Appraisal Area and Property Type AA CONDO MULTI SFR VACANT 0 06 Avg Assd Value $0,7 $,98 $77,97 $67,7 07 Avg Assd Value $0,00 $6,8 $,99 $76,78 $9,88 $,90 $5,6 $9,057 Avg % Change in App Area Avg Assd Value 90% % 67% 7% 0 06 Avg Assd Value $,00 $76,90 $9,5 $, Avg Assd Value $68,8 $,56 $,59 $5,8 $5,08 $7,6 $9,09 $-8,605 Avg % Change in App Area Avg Assd Value 69% 706% 990% -695% 0 06 Avg Assd Value $58,075 $0,5 $55,95 $,56 07 Avg Assd Value $90,05 $6,89 $00,6 $8,87 $,976 $58,8 $,768 $,76 Avg % Change in App Area Avg Assd Value 90% 97% 597% 85% 0 06 Avg Assd Value $6,707 $88,57 $9,87 $9,08 07 Avg Assd Value $86,955 $7, $58,85 $0,706 $,8 $8,65 $9,8 $7,599 Avg % Change in App Area Avg Assd Value 0% 9% % 890% Avg Assd Value $86,707 $65,589 $78,07 $85, Avg Assd Value $5,067 $9, $0,796 $8,90 $8,6 $6,5 $6,89 $-,86 Avg % Change in App Area Avg Assd Value 590% 9990% 958% -569% Avg Assd Value $7,7 $5,99 $,00 $59, 07 Avg Assd Value $7,7 $8,8 $5,987 $69,07 $,750 $,8 $8,978 $9,805 Avg % Change in App Area Avg Assd Value 6077% 58% 99% 6560% Avg Assd Value $,900 $,79 $05,89 $5,5 07 Avg Assd Value $5,0 $55,780 $5,8 $5, $9,50 $,0 $9,90 $5,778 Avg % Change in App Area Avg Assd Value 70% 00% 57% 77% Avg Assd Value $68,59 $76,56 $7,906 $78,88 07 Avg Assd Value $90,9 $0,6 $00,96 $86,50 $,95 $,079 $9,058 $8,6 Avg % Change in App Area Avg Assd Value 05% 598% 0687% 0567% Avg Assd Value $7,90 $5,878 $6,79 $77,9 07 Avg Assd Value $,86 $87,750 $95,0 $9,950 $7,7 $5,87 $,56 $,008 Avg % Change in App Area Avg Assd Value 67% % 97% 797% Page

7 Pierce County Assessor-Treasurer 07 Residential Revaluation Report 07 Residential Average Assessed Value Changes by Appraisal Area and Property Type AA CONDO MULTI SFR VACANT 0 06 Avg Assd Value $5,80 $0,86 $7,08 $9, Avg Assd Value $5,986 $55,560 $0,9 $58,08 $0,506 $5,7 $9,090 $8,8 Avg % Change in App Area Avg Assd Value 57% 68% % 708% 06 Avg Assd Value $78,860 $0,95 $9,78 $0,5 07 Avg Assd Value $,99 $5,78 $60,060 $9,89 $, $,89 $0,77 $9,06 Avg % Change in App Area Avg Assd Value 88% 99% 9595% 808% 06 Avg Assd Value $79,8 $08,75 $76, $5,0 07 Avg Assd Value $, $8,85 $5,8 $5,9 $,99 $0,098 $55,700 $9,899 Avg % Change in App Area Avg Assd Value 6079% 987% 699% 5878% 06 Avg Assd Value $88,67 $78,5 $77, $9,9 07 Avg Assd Value $08,5 $6, $0, $0,6 $9,88 $8,07 $5,88 $,0 Avg % Change in App Area Avg Assd Value 058% 696% 95% 5% 06 Avg Assd Value $7,8 $8,00 $58,998 $68,8 07 Avg Assd Value $7,70 $5,9 $87,0 $80, $9,906 $5,8 $8,05 $,09 Avg % Change in App Area Avg Assd Value 877% 6% 08% 76% 5 06 Avg Assd Value $0,65 $7,9 $,05 $00, 07 Avg Assd Value $9,9 $66,97 $59,5 $,80 $8,867 $9,09 $6,80 $,9 Avg % Change in App Area Avg Assd Value 08% 58% 9% % 6 06 Avg Assd Value $8,96 $9,86 $06,00 $85,6 07 Avg Assd Value $8,89 $97,895 $7,89 $0,08 $6,6 $58,059 $,890 $7, Avg % Change in App Area Avg Assd Value 5589% 708% 690% 05% 7 06 Avg Assd Value $6,860 $8,0 $70,86 $6,69 07 Avg Assd Value $7,6 $55, $00,6 $,7 $7,56 $7,0 $9,8 $7,08 Avg % Change in App Area Avg Assd Value 8559% 70% 797% 9% 8 06 Avg Assd Value $6,67 $6,7 $7,509 $5,98 07 Avg Assd Value $8,60 $6,7 $98,6 $,98 $,786 $8,05 $6,955 $5,80 Avg % Change in App Area Avg Assd Value 09% 685% 576% 70% Page

8 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Number of Sales 06 Average Sale Price Percent Change Dollar Change in Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value Current Count $7,68 670% $5,75 $5,7 $79,996,5 9 $8,98 0% $,8 $9,98 $08, $85,90 79% $,8 $88,06 $5,9,50 70 $97, 696% $0,99 $8,6 $,69,507 5% $9,786 $89,9 $80, % $-6,076 $5,7 $97,0 8 $0, % $5,78 $9,90 $7,75 7 $,6 076% $,0 $89,65 $66,5 6 $,078 % $,89 $66,05 $5, % $5,890 $86,67 $800, $,667 7% $,88 $9,9 $5, $05,065 0% $6,858 $9,6 $6, $, % $8,89 $57,957 $9,066 9 $07,58 75% $9,79 $6,0 $,6,6 07 $0,6 95% $,9 $86,7 $6,59,77 $0,58 06% $0,777 $0,6 $99, $85, 8850% $7,5 $8,65 $,8,9-898% $-7, $,00 $, 7 0 $7,88 97% $0,08 $7, $6,96, $06,80 87% $0,57 $88,6 $58,00,08 7 $87,69 085% $,80 $5,709 $7, $6,7 97% $9,90 $80,07 $50,08,0 57 $,0 69% $,906 $89,79 $7,8,05 8 $7,9-660% $-,7 $8,655 $, $85,67 96% $, $06,08 $9,98 6% $5,77 $88,76 $, $07,9 67% $0,80 $7,597 $60, $,695 69% $0,96 $8,5 $5,8,96 5 $,9 08% $8,08 $9, $7, $9,58 8% $0,59 $95,9 $6, $60,77 679% $7,696 $0,7 $0,75, % $, $8,00 $05,989 7 $9, % $9,700 $08,9 $98,9 5 $59,98 000% $7,779 $86,95 $8, $8,69 6% $,98 $6,66 $,68 $0,77 97% $6, $89,989 $8, $65,00 800% $0,790 $5,557 $8, % $-,6 $,67 $7,000 LEA LEA 07 Residential Average Assessed Value Change by Neighborhood Page

9 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Number of Sales 06 Average Sale Price Percent Change Dollar Change in Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value Current Count $,50 889% $,06 $9,9 $6,66,6 7 $0, % $8,096 $07,90 $89,9 60 $78, % $5,7 $7,798 $59,55 85 $7,56 59% $,905 $5,76 $, $69,79 60% $,759 $,689 $8, $5,7 860% $6,5 $6,5 $0,000,060 9 $0,605 78% $9,55 $8,009 $7,6 7 7 $80,859 95% $0,59 $,6 $,9,5 7 $85,850 6% $8,89 $8,95 $5,0 8-98% $-,75 $,55 $,900 $68,000 59% $7,0 $70,7 $66, % $,50 $5,965 $0, $,8 87% $0,950 $85,9 $5, $, % $,65 $,9 $8,567,5 66 $8, % $9,77 $5,5 $95,80, $89, % $,65 $8,6 $9,78 77 $89,7 68% $,096 $7,78 $50, $7, 008% $,6 $7,8 $0,70,67 $8,90 786% $0,60 $70,50 $0, $69, % $8,966 $78,65 $9,686,8 $05,79 5% $,98 $88,6 $5,,5 65 $07, % $,56 $9,09 $5,57,7 7 $8,60 56% $,7 $6,9 $8,99, $6,75 085% $,67 $,6 $0,67 98 $8,698 95% $7,8 $5, $6,587,87 000% $0 $,50 $,50 7 $50, % $,87 $5,69 $9,85,56 6 $960, % $8,500 $679,77 $60, $779, % $6,569 $695,785 $6, $798,79 86% $6,06 $8,06 $75, $65,0 085% $,78 $5,09 $6,75,5 8 $76,05 69% $5,909 $69,7 $6, $,97,00 59% $8,60 $,5,89 $,096, $60, % $,09 $9, $96,5 7 $777,0 60% $8,65 $68,766 $600, 08 6 $70, 996% $76,66 $75,60 $68, $550,00 798% $76,97 $6,60 $557, $,58 % $0,9 $8,60 $5,5 89 LEA LEA 07 Residential Average Assessed Value Change by Neighborhood Page 5

10 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Number of Sales 06 Average Sale Price Percent Change Dollar Change in Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value Current Count $6,669 68% $5,6 $5,05 $79,670,6 5 $0,65 875% $9,60 $75,657 $6,97, 5 $,6 95% $50,85 $,60 $60, $,98 87% $,0 $00,06 $75,90,08 7 $,50 975% $9,506 $9,500 $99, % $-,767 $, $5, $5,886 0% $0,67 $0,095 $99,,95 6 $,96 00% $,706 $9,7 $6,569,09 66 $8,686 56% $6,0 $0,50 $65,58,77 07 $9,98 0% $8,605 $8,7 $5,09, $9, % $7,95 $9,8 $6,, 7 $86,6 75% $8,707 $78,876 $50,69,86 5 $,8 5% $8,505 $58,0 $9,600,86 8 $70, % $6,7 $68,7 $,698,9 7 $6,75 967% $8,7 $6,8 $98,56, $05,596 0% $7,60 $57,98 $9,596,70 0 $87,5 06% $7,0 $7,90 $,50,79 7 $09,57 60% $7,7 $96,5 $79, $88,9 0% $,58 $86,5 $5,66,0-988% $-77,000 $5,900 $8, $95,699 7% $,55 $6,666 $,,79 8 $5,97 5% $,59 $55,87 $,80,0 66 $5,56 965% $6,867 $9,5 $9,88 5,9 7 $506,7 897% $5,698 $,5 $60,5 05 $6,9 5% $7,060 $0,57 $76,78,50 6 $,87 789% $8,5 $86,85 $58,0 6 $67,78 58% $,588 $50,500 $6,9,7 80 $69,50 06% $5,795 $59,9 $,9 8 $50,6 5587% $5,67 $60,78 $5, $55,59 790% $7,969 $6,65 $8,68,7 68 $55,0 9% $,67 $0,88 $5, $7,7 650% $0, $8,8 $07,795,66 70 $5,0 56% $5,0 $5,66 $00,559,6 6 $59,66 680% $5,85 $7,87 $,5,7 000% $0 $,00 $,00 69 $76,09 777% $8,50 $57,97 $9,70,08 $,789 98% $0,9 $5,8 $,0 859 $5,65 7% $5,6 $,0 $85, LEA LEA 07 Residential Average Assessed Value Change by Neighborhood Page 6

11 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Number of Sales 06 Average Sale Price Percent Change Dollar Change in Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value Current Count $9,8 070% $5,8 $0,77 $67,6 9 $, % $,8 $9,5 $59,5 05 $,7 805% $,6 $0,96 $96, $,9 976% $5,7 $85, $59, $,0 086% $8,7 $,90 $7,70,98 95 $99,50 999% $5,9 $9,959 $9,60,609 9 $6,69 95% $5,8 $8,08 $96,655, 6 $69,5 % $,07 $67, $660, $07,97 660% $5,96 $55,78 $9, $8,00 8% $5,5 $,600 $06,85 7 $0,000 7% $8,659 $9,59 $8,700 7 $85, % $8,96 $9,97 $8, % $8,0 $6,59 $08,5 $85, % $7,68 $97,87 $80,60 5 $5,98 688% $5,809 $5,76 $9, $656,775 % $86,796 $,7 $56, $6,66 00% $,567 $6,8 $5,66 87 $7,000 -% $-89 $66, $66, $8,08 975% $8,8 $05,788 $87, $06,50 999% $7,05 $97,7 $80,066 5 $95,9 08% $,06 $8,6 $07,0 88 $0,07 605% $7,8 $,586 $07,05 5 $,000 5% $,07 $7, $69,7 $8,76 75% $,58 $09,8 $06,85 5 $5,09 985% $,0 $8,7 $07,9 5 8 $9,57 508% $0,700 $58,55 $7, $7,600 6% $5,576 $6, $0,8 5 9 $06,0 650% $,85 $6,80 $60, $09,6 66% $7,656 $6,96 $6, $9,890 65% $6,8 $88,8 $6, $88, 688% $5,70 $8,59 $55, $76, % $0,6 $6,688 $,7,68 56 $68,00 97% $8,508 $0,0 $9,796,6 60 $96,85 56% $6,77 $7,9 $6,5,05 6 $8,7 676% $,557 $6,9 $0, $, % $,58 $8,96 $7, $8,05 50% $,97 $97,798 $6,87,85 $9,6 9% $,66 $78,05 $55,00,7 LEA LEA 07 Residential Average Assessed Value Change by Neighborhood Page 7

12 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Number of Sales 06 Average Sale Price Percent Change Dollar Change in Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value Current Count $69,50 808% $,05 $8,56 $6, $68,7 50% $,05 $5,57 $,, 0 $0, % $,55 $88,590 $6,06,7 5 $79,95 97% $,7 $5,87 $77,5 5 $60,8 0090% $,05 $9,58 $7,8 9 0 $09,78 76% $0,87 $0,885 $8,08,588 5 $6,00 7% $,76 $,805 $88,079 5 $50, % $0,05 $,795 $9,7 6 09% $8,600 $9,580 $8,980 5 $, % $,7 $6,607 $,7 55 $66,08 58% $,90 $0,05 $6, $6,065 87% $9,6 $79,66 $70, $76,5 75% $,75 $9,880 $7,7,77 $5, % $7,09 $9,68 $8,959 7 $5,7 780% $,00 $5, $7,9 9 97% $,765 $8, $9,58 5 $70,00 09% $0,05 $88,06 $76,965 9 $,75,000 57% $,507 $,07,89 $90, $,0,85 806% $50,76 $978,679 $87,9 6 $705,8 87% $67, $85,869 $768,77 09 $8, 897% $0,805 $80,5 $689,8 8 $,070,000 5% $,8 $75,60 $77, 7 9 $88,59 99% $7,79 $85,9 $779, $790,500 67% $,5 $695,66 $68, $78,99 897% $,07 $96,79 $65,5,6 0 $76,70 79% $0,7 $8,86 $, $9,059 80% $5,6 $00,60 $5,7 5,0 $89, % $6,85 $780,905 $79,0 0 7 $58,85 6% $,95 $0,65 $77,70,06 8 $50,0 97% $6,06 $, $86,5,76-965% $-89,00 $,00 $9,500 $500,000 00% $0,79 $,0 $0,860 6 $670,000 79% $56, $5,959 $77, $99,9 56% $75,89 $8,655 $08,66 5 $5,87 0% $5,77 $57, $8,560 0 $,9,500 76% $98,88 $967,588 $868, $6, 78% $0,65 $05,6 $8,970,9 6 $60,906 09% $,75 $5,55 $,50 LEA LEA 07 Residential Average Assessed Value Change by Neighborhood Page 8

13 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Number of Sales 06 Average Sale Price Percent Change Dollar Change in Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value Current Count $05,58 7% $6,609 $9,6 $5,707,909 9 $,70 508% $0,68 $9,0 $98,8,7 5 $7,6 % $,8 $9,900 $87, $7, % $5,05 $56,766 $, $0,8 07% $8,8 $9,06 $55, $0,08 069% $6,5 $88,008 $5,55 85 $76,5 757% $9,9 $8,88 $08, % $,87 $,9 $00, $8,765 70% $7,759 $,598 $95,88,00 $79,56 57% $7,50 $8,95 $6,50 8 $9,006 60% $,005 $5,7 $7, $79, 50% $,697 $8,865 $5, $8,8 676% $0,97 $0,5 $80,8 67 $8,06 56% $,058 $70,6 $7,0 6 $05,7 868% $,78 $, $80, $68,7 660% $8,7 $7,9 $5, $0,57 69% $,6 $, $09,06,00 $57,00 66% $6,687 $55,9 $8, $69,77 865% $,066 $8,66 $68,597 6 $898, % $89,7 $,9,667 $959, $97,50 60% $,8 $5,86 $58,6 55 $,55,000 08% $0,906 $,06,96 $958,9 5 $97,7 558% $5,59 $5,6 $86,768 0 $57,677 58% $57,797 $8,7 $6,9 $6,57 60% $7,9 $7,95 $90, $, % $8,559 $9,60 $,060,09 $76,95 99% $58,75 $69,606 $65,86 0 $80,89 0% $6,9 $8,50 $8, $85, % $,589 $6,6 $,0,79 $,7, % $88,858 $9,80 $8,96 6 $,9 066% $0,9 $,686 $9,57,607 $00, % $0,56 $65,99 $55,58 6 $58, % $,5 $658,6 $6,00 67 $7,9 8888% $,995 $6,95 $, % $0 $,00 $,00 $,68 756% $0,88 $90,006 $69,69 9 $8,7 0977% $,09 $,70 $9,6 0 $0,89 05% $,088 $,878 $90, LEA LEA 07 Residential Average Assessed Value Change by Neighborhood Page 9

14 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Number of Sales 06 Average Sale Price Percent Change Dollar Change in Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value Current Count $09,0 567% $5,79 $95,5 $69,7,79 7 $7, % $7,55 $0,75 $7,9,79 7 $0,95 67% $7,0 $9,989 $65,978,70 75 $99,66 78% $,070 $87,50 $6,,5 59 $09, % $9, $0,07 $7,96,9 9 $09,9 77% $0,6 $86,6 $65,86, $9,50 8% $8,560 $8,5 $55,785,6 7 $,908 58% $6, $98,50 $7,06, $,659 9% $,5 $08,99 $86,7,06 7 $9,05 605% $,969 $80,006 $55,07,6 6 $0,05 86% $6,89 $98,85 $6,9,565 6 $99,7 960% $0,5 $89,89 $58,96,60 7 $7,7 750% $8,56 $90,69 $6,5,5 89 $0, % $0,7 $95,0 $6,956,08 6 $8, % $,56 $5,88 $0,8, % $0 $00 $00 6 $67, 569% $69,60 $6,65 $55, $87, % $5,6 $,8 $9,0,50 $7,86 98% $8,90 $6,76 $, $07,08 % $,78 $90,75 $57,00,55 9 $, % $,666 $,987 $7,,560 8 $59, % $5,7 $5,09 $98, $98,0 0608% $7,07 $8,809 $5,78,8 90 $0,8 97% $6,70 $90,80 $,577,685 7 $0, % $0,89 $87,576 $6,68,65 000% $0 $,000 $,000 5 $8,7 968% $6,7 $99,8 $7, $0,7 6% $5,5 $,79 $06, $98,6 790% $8,055 $59, $8, $0,59 9% $,97 $,96 $8,0,96 6 $5,95 607% $7,70 $,0 $7, $5,000 % $,77 $56,86 $560,80 5 $7,6 655% $6,0 $55,68 $9, $8,65 886% $9,607 $,57 $8,96,75 7 $05,576 59% $,77 $0,08 $78,807 5 LEA LEA 07 Residential Average Assessed Value Change by Neighborhood Page 0

15 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO % % % % % % % % % % % % % % % % % MULTI $7,78 $6,06 $,8 506% $5,00 $7,00 $9, % $7,895 $9,8 $, % % SFR $5,66 $8,56 $, % $5,85 $,60 $7,6 8% $,75 $9,6 $6,8 50% $88, $,78 $56,59 950% $07,67 $7,09 $9,9 799% $70,9 $88,756 $8,6 680% $7,07 $,60 $8,85 6% $57,88 $0,05 $5,7 0% $98,59 $9,5 $0,8 088% VACANT $7,000 $,67 $-,6-960% $,86 $,79 $0,07 85% $5,565 $55,9 $,89 58% $,500 $8,800 $-5,700-65% $85,76 $07,5 $,589 57% $55,00 $6,00 $5, % $77,78 $77,89 $ 0% $57,0 $6,9 $,9 769% $7,69 $8,866 $9,7 6% $5,6 $8,87 $,665 78% Page

16 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO % % % % % % % % $0,7 $0,00 % $9,88 90% % % MULTI $0,600 $57,950 % % % $7,50 860% $6,98 $5,600 $5,67 6% $7,00 $8,800 $56, % $69,50 $06,800 $7,50 90% $,0 $6,80 $,680 68% % SFR $7,870 $56,7 $8,0 050% $7,695 $85,95 $,0 69% $70, $90,9 $0,9 960% $0,08 $96,575 $-5,5-5% $85,78 $,8 $8,97 695% $,5 $6,98 $8,8 980% $89,97 $05,6 $6,09 7% $98,98 $,57 $5,75 798% $5,8 $88,0 $,97 787% VACANT $65,807 $75,870 $0,06 59% $56,96 $66,0 $9,50 669% $,70 $88,76 $5,77 6% $,060 $7,9 $6, 5666% $0,8 $9,095 $-, -868% $69,6 $80,777 $, 68% $5,0 $58,50 $6,09 79% $89,7 $9,0 $,0 00% $66,87 $7,9 $8,55 8% $5,958 $6,86 $9,58 799% Page

17 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO % % % % $,00 $68,8 % % % % % $5,08 69% % % % % % % MULTI $6,00 $7,50 % $7,950 5% $57,70 $8,80 $6,90 056% $86, $,85 $56,5 970% % SFR $5, $87,67 $5, % $, $70,955 $6,8 0% $67,58 $9,580 $5, 99% $5,6 $8,6 $0,985 7% $90,66 $07,557 $6,90 888% $6, $7, $5, % $9,66 $08,79 $,7 7605% $87,7 $89,78 $7,656 0% $87,75 $0,79 $5,00 87% VACANT $, $,00 $-7, -898% $8,7 $0,9 $-8,98-66% $0,88 $0,07 $-,6-6% $05,76 $98, $-7,0-6687% $77,60 $87,88 $0,08 9% $6,09 $,08 $-, % $8, $86,7 $, % $0,96 $,85 $-6,6-00% $,67 $,67 $0 000% $86,70 $97,0 $0,690 7% Page

18 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO % % % % $0,560 $5,0 056% % % $9,6 $0,86 9% % $0,65 98% $7,867 $9,057 $5,90 $7,59 % % % % % MULTI $0,678 $67,88 $6,0 07% $8,0 $,8 $59,70 086% $86,859 $9,776 $5,98 87% $9,8 $76,557 $6,75 70% $6,80 $07,80 $6,000 7% SFR $87,8 $,776 $6,9 7% $7,950 $,0 $6, % $,00 $57,60 $6,0 67% $80,7 $89,9 $9,786 5% $50,65 $9,6 $, % $58,9 $0, $, 677% $,069 $76,958 $,890 77% $87,9 $,06 $6,8 67% $5,79 $8,88 $0,090 90% $567, $65,550 $78,6 8% VACANT $,96 $5,006 $,070 70% $9,68 $09,7 $,90 580% $0,7 $50,87 $-50, % % $6,6 $7,76 $,6 009% $7,85 $88,69 $6,8 0% $99,58 $5,98 $5, % $7,66 $8,9 $9,9 069% $6,500 $75,67 $,667 87% $90,500 $8,575 $8,075 07% Page

19 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO % % % % % % % % % $7,668 $06,0 $,7 % % % % % MULTI $0,00 $500,00 % % $60,00 676% $7,6 $68,0 $50, % $8,056 $, $,67 666% $78,00 $788,900 $70,700 98% SFR $67,6 $75,5 $77,787 06% $608,7 $69,09 $8,96 67% $97,086 $0,87 $,00 085% $,57,8 $,99,798 $,70 66% $0, $96,65 $56, 78% $9, $65,0 $5, % $76,69 $8,89 $6, % $655,09 $7,97 $66,95 00% $66,96 $76,58 $5, % $5,866 $90, $7,58 065% VACANT $,600 $7, $,6 076% $00,60 $,80 $,80 059% $87,00 $08,00 $0,900 59% $558,7 $56,856 $5, 97% $0,8 $5,57 $,88 955% $7,05 $50,076 $,0 957% $8,5 $86,967 $8, 07% $8,678 $7,509 $8,8 579% $55, $68,99 $,686 56% $8, $5,607 $,9 0% Page 5

20 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO % % $7,7 $55,75 $57,7 $8, % % % % $8,5 5% $,8 $,68 $0,5 8% $56,7 $00,667 $,50 85% $79,9 $0,0 $,009 86% $6,050 % % % MULTI $7,57 $86,088 $8, % $00,6 $,77 $,8 59% $55,8 $9,8 $7,06 59% $8,6 $,596 $60, % $89,87 $,7 $,87 8% $0,9 $77,55 $6,96 09% $0,05 $8,950 $,95 0% % SFR $,0 $80,600 $9, % $0,766 $7,00 $,6 9870% $, $7,876 $50, 559% $76,707 $,00 $6,96 67% $8,69 $9,59 $8,5 585% $,606 $8, $9,76 65% $0,759 $8,57 $,98 76% $5,7 $79,8 $, 88% $50,686 $7,78 $,096 68% VACANT $,50 $,50 $0 000% $85,996 $0,58 $8,6 5% $99,7 $6,7 $7,68 759% $8,76 $97,6 $,987 87% $8,886 $95,6 $, % $8,99 $98, $,7 765% $95,00 $,50 $7, % $69,796 $89,8 $0, % $7,8 $9,88 $9,5 706% % Page 6

21 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO % % $78,07 $06,8 % % % $8, 5955% $57,50 $85,800 $8, % $8,50 $55,50 $5, % $,607 $50,68 $9, % $5,76 $,8 $8,75 856% % % % % % MULTI $5,9 $7,7 $8,78 9% $8, $8,8 $5,89 057% $88,75 $55,00 $65,05 5% $65,78 $9, $6, % $5,500 $6,00 $9,600 77% % SFR $5,56 $85,80 $,8 97% $97,67 $7,65 $9,69 998% $,65 $58,55 $,60 79% $85,68 $7,5 $,56 87% $0,55 $5,965 $,50 05% $680,979 $758,59 $77,6 97% $7,09 $86,6 $9, 76% $5,87 $6,6 $0,760 99% $7,6 $5,75 $5,8 559% VACANT $8,7 $07, $, % $0,66 $7,985 $6,8 980% $,850 $70,60 $5, % $9,95 $06,90 $, % % $9,0 $5,80 $,70 698% $,900 $,55 $-,75-98% $9,500 $,00 $-5,00-788% $50,65 $9, $-,9-99% $8,08 $7,75 $-0,70 -% Page 7

22 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO % % % % % % % % $7,9 $97, % % $6,79 % % % % MULTI $80,70 $9,9 % $,7 709% $58,08 $88,9 $0,850 95% $6,600 $7,00 $9, % $5,89 $99,9 $5,950 87% $55,0 $76,9 $, 89% % SFR $5,95 $,060 $7,5 8586% $0,80 $,896 $7,77 99% $5,886 $,775 $6,890 57% $6,78 $78,766 $5,588 59% $99,58 $8,979 $9,8 995% $7,8 $05,7 $, % $5,89 $,89 $59, % $67,66 $05,500 $8, 00% $59,0 $79,558 $0,8 776% VACANT $96,87 $9,0 $-,75-6% $07,85 $0,98 $-6,6-5885% $65,85 $69,0 $,76 59% $,98 $7,88 $,50 576% $,86 $7,70 $-7,5-596% $9,067 $9,50 $,6 57% $78,79 $76,7 $-,55-87% $89,758 $89,8 $-76-50% $87,7 $8,090 $-6,8-706% $,00 $,00 $0 000% Page 8

23 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO $,8 $60,5 % % % % % $5,90 00% $76,75 $0,788 $,6 967% $,5 $5,805 $7, % $68,8 $,57 $,76 59% $6,090 $5,06 $9,6 50% % MULTI $5,80 $8,896 $8, % $7,85 $6,79 $8,98 88% $7,87 $58,69 $,5 69% $,67 $8,00 $,58 099% $70,5 $,570 $,7 000% $6,0 $05,90 $, % $95,8 $8,8 $,76 08% $8,5 $7, $5,590 90% $0,56 $7,886 $7,69 % SFR $7,50 $5,8 $6,8 69% $,60 $9,97 $6, % $,76 $5,859 $,8 6% $,8 $9,70 $5,6 06% $,98 $9,7 $8, 789% $,889 $79,7 $6,58 506% $5,6 $7,5 $6,88 09% $,85 $59,786 $,9 550% $76,85 $08,8 $,9 7808% $8,85 $,09 $8, % VACANT $6,569 $7,6 $,05 765% $5,90 $6,0 $0,65 995% $7,67 $8,998 $,80 709% $50,076 $59,67 $9,9 855% $6,00 $7,90 $9,60 96% $78,05 $87,88 $9,5 8% $56,00 $6,75 $8, % $57,0 $6,7 $6,8 96% $8,9 $6,59 $7,8 9050% $9, $,0 $,59 6% Page 9

24 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO % % $7, $8,800 $,77 599% $5,6 $8,9 $0,76 006% $7,96 $5,67 $8,75 55% $6,9 $5,66 $7,7 550% $5,57 $5,88 $5,88 667% $5,85 $7,5 $,5 6% $59,79 $8,877 $,698 59% $87,886 $,667 $6,78 5% % % MULTI $08,650 $68,600 $59, % $9,79 $58,77 $8, % $9, $07,8 $,68 985% $79,5 $,78 $, 570% $9,08 $6,9 $, % $6,0 $07,5 $,05 67% $75,85 $,6 $58,9 % $0,079 $,650 $0,57 86% % SFR $5,6 $89,5 $6,98 500% $9,96 $,09 $8, 0% $,969 $70,5 $6,56 596% $9,59 $67,08 $7,55 9% $56,99 $88,99 $,95 0% $9,87 $,8 $8,6 675% $56,808 $8,67 $6,86 060% $7,77 $7,556 $6,79 067% $8,0 $7, $9,7 950% VACANT $87,58 $96,785 $9,0 0509% $0,66 $,85 $,5 796% $60,76 $69,608 $8,89 6% $55,88 $6,70 $7,6 668% $8,900 $5,900 $-77, % $0,9 $0, $9,8 900% $95,880 $95,050 $ % $70, $77,9 $7, % $75,586 $8,8 $8,6 0909% $0,7 $0,67 $8,0 809% Page 0

25 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO $97,6 $0,075 % % 6755% % % $, 50% $96,50 $7,000 $0, % $8,99 $6,900 $7,909 6% $0,57 $8,960 $8,85 080% $,0 $6,905 $,665 $05,50 $5,850 $0,00 986% % % % MULTI $78,97 $08,5 $0, % $78,66 $6,7 $8,76 76% $7,750 $58,000 $0,50 965% $0,7 $,9 $9,78 967% $77,70 $,900 $5,97 675% $06,75 $6,65 $9, % $56,85 $87,660 $0,85 997% % SFR $8, $75, $7, % $55,76 $87,65 $,890 69% $58,88 $87,777 $8,99 85% $6,56 $9,99 $7, % $6,5 $9,5 $9,808 7% $7,00 $09,955 $6,95 5% $8,599 $6,9 $, 9779% $, $5,08 $, % $0,55 $0,56 $9,90 956% VACANT $78,00 $88,08 $9,808 5% $6,585 $7,6 $7,66 08% $70,087 $78,59 $8, 0% $85,775 $95,900 $0,5 80% $78,9 $90,69 $,75 887% $06,609 $8,907 $,98 56% $89,57 $00,077 $0,50 76% $80,57 $90,8 $9, % $5,900 $, $-,767-68% $57,86 $6,57 $5,7 987% Page

26 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO $,78 $,0 % % $80,550 $8,800 6% $,66 $6,0 % % $9,95 665% $,00 $,9 $,9 08% $90, $,9 $,5 % $8,780 $5,888 $7,08 8% $8,00 $56,900 $8,700 5% $8,50 $5,07 % MULTI $9,0 $9,57 $,955 80% $68,00 $,975 $6,875 78% $,6 $80,85 $8,8 589% $6,7 $95,579 $,6 98% $58,9 $9,9 $5,86 870% $67,876 $0,50 $6,6 676% $7,7 $09,50 $7,57 806% $50,0 $76,0 $5,900 05% $7,77 $0,0 $5,7 856% SFR $0,080 $8,8 $5,7 77% $98,8 $56,8 $57,66 996% $56,00 $85,96 $9,66 57% $96,9 $,65 $7,05 588% $7,707 $98,6 $, % $80,0 $,00 $,97 09% $7,068 $,7 $9,0 8% $55,0 $89,68 $,55 5% $58,7 $99, $0,89 569% $00,807 $0,68 $9,6 8% VACANT $9,505 $6, $,88 997% $7,5 $9,9 $9, % $9, $0,587 $6,65 70% $8,978 $97,590 $,6 8% $88,595 $06,98 $8, 068% $8, $0,65 $7,5 09% $8, $0,78 $,8 757% $7,97 $85,68 $, % $7,080 $86,97 $,7 000% $90,957 $09, $8,57 08% Page

27 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO $6,58 $7,8 % % % % % % % % % $,8 8886% % % % % % % MULTI $,658 $5,0 % % $9,7 075% $56,0 $95,860 $9,70 556% SFR $56,65 $89,8 $,7 9% $68,50 $96,55 $7,85 650% $77,09 $05,857 $8,807 67% $85,806 $,86 $6,00 60% $08,6 $,58 $,66 77% $09,5 $9,9 $9,76 660% $,7 $8,98 $7,56 5% $,85 $6,770 $6, % $66,68 $7,79 $7,5 56% $5,88 $8,68 $,80 07% VACANT $70,59 $80,00 $9,08 7% $5,95 $9,6 $,9 50% $,65 $7,7 $,059 08% $5,08 $57,9 $,09 687% $0,7 $,67 $97 86% $9,506 $9,689 $8 6% $8,67 $,578 $, % $9,80 $,6 $,06 767% $,056 $9,665 $-,90-85% $9,856 $9,856 $0 000% Page

28 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO % % % % % % $,600 $0,5 9% % % % $58,9 % % % % % % MULTI $0,700 $6,00 % % $5, % $05,00 $7,000 $,600 07% SFR $5, $6,98 $8,65 78% $,55 $70,56 $6,00 066% $88,09 $6,706 $8, % $06,0 $,65 $8,6 95% $8,76 $8,8 $-5-7% $98,80 $,96 $5,8 % $7,7 $55,77 $07, % $90,68 $6,95 $5, % $,00 $,60 $0,0 980% $7,788 $86,5 $,756 70% VACANT $7,098 $,690 $,59 78% $,59 $,66 $,87 896% $50,55 $5,98 $,59 687% $9,80 $55,60 $6, 60% $6,75 $6,75 $0 000% $,8 $,69 $-55-9% $06,085 $7,5 $,5 096% $88,808 $96,008 $7,00 807% $9,0 $5,80 $5,0 0967% $8,50 $,867 $,7 8688% Page

29 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO % % % % % $90,06 $9,0 $5,987 $66,08 75% $86,609 $,57 $0,989 $5,0 669% % $8,86 99% $0,096 $5,98 99% $50, % % % % % % MULTI $5,9 $88,879 $,75 98% $98,8 $5,09 $6,7 % $,67 $57,500 $,88 00% $56,9 $79,89 $, % SFR $5,7 $6,8 $,565 98% $07, $7,00 $9,857 75% $,868 $7,568 $9,700 9% $56,6 $7,67 $6, % $68, $695,897 $,765 08% $5,585 $5,5 $6,957 9% $6,578 $65,987 $9,09 067% $8,6 $6,788 $,7 05% $, $9,89 $7,87 89% $5,59 $8,7 $7,698 78% VACANT $5,00 $5,56 $,56 7% $7,67 $76, $,067 80% $57,8 $6,800 $6,957 08% $66,50 $75,6 $9,8 80% $7,06 $9,9 $0,888 5% $80,95 $89,98 $9,070 50% $9,9 $0,6 $9,097 96% $,70 $0,86 $7,56 666% $76,6 $80,59 $, 55% $07,6 $0,508 $,6 6% Page 5

30 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO % % % $69,86 $90,88 % 6% % % % % $0, 05% $9,500 $6,00 $6,700 % % % % % % % % MULTI $89,97 $,779 $, % $656,50 $69,800 $-6,550-05% % SFR $80,00 $7,85 $7,56 069% $70,7 $06,5 $5,88 07% $5,868 $8,8 $,5 08% $0,77 $5,8 $,09 767% $988, $,00,85 $,60 95% $577, $60,95 $6,7 09% $70,978 $6,090 $9, 80% $58, $577,96 $59,59 97% $95,99 $7,67 $5,9 986% VACANT $,00 $,600 $, % $,700 $9,00 $6, % $6,5 $70,000 $7,775 95% $69,0 $70,70 $,686 % $,965 $56,809 $,8 705% $8,0 $66,56 $8, % $75,6 $88,607 $,7 766% $6,7 $7,55 $7,88 906% $0,70 $9,050 $6,0 5898% $9,500 $,00 $-89,00-965% Page 6

31 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO $0,05 $5,0 % % $9,09 $90,050 $59,550 00% % % $,96 587% $99,5 $55,08 $55, % $79,9 $,7 $,980 50% $99, $6,65 $7,8 8669% $8,89 $0,6 55% $9,500 % % % % MULTI $,950 $77,700 % $, % $6,09 $6,8 $6,88 097% $95,55 $6,90 $,9 990% $5,58 $79,77 $6,58 07% $66,00 $67,900 $0, % SFR $8,9 $500,69 $5,78 55% $00,86 $,69 $, % $7,67 $79,659 $6,9 85% $87,8 $6,6 $8, % $60,96 $0,77 $,809 58% $,80 $68,869 $5,590 8% $79,556 $805,78 $,7 669% $8,85 $9,09 $78,56 97% $8, $80,785 $7,66 0% $786,6 $9,60 $7,8 875% VACANT $09,67 $9,90 $0,6 869% $6,706 $67,7 $0,5 98% $57,00 $8,500 $6,00 00% $07,08 $7,590 $0,508 95% $6,5 $80, $5,99 690% $0,5 $,5 $,00 669% $5,000 $6,88 $,88 80% $0,086 $56,9 $6, 6% $0, $,00 $,967 0% $6, $60,67 $,9 689% Page 7

32 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO % % % % $,950 $,500 % % % % % $9, % % % % % MULTI $77,950 $85,800 % % $7, % $75,800 $90,700 $9, % $66,00 $90,00 $, % $67,800 $8,00 $, % SFR $85, $98, $7,8 86% $89,90 $,05,50 $6,959 87% $958,957 $,05,806 $6,88 5% $756,5 $86,68 $05,6 897% $9,08 $0,98 $6, % $,9 $67,67 $5,78 75% $8,5 $6,600 $5, % $70,78 $86,88 $5,06 90% $7,97 $0,0 $,9 698% $96,98 $8,00 $, % VACANT $59,6 $87,9 $8, % $68,590 $0,7 $5,78 5% $58,950 $8,50 $5,00 597% $06,66 $65,8 $58,675 9% $5,00 $8,050 $, % $65,600 $7,00 $6, % $5, $0,6 $5,00 % $,5 $,90 $- -767% $,88 $,90 $,07 9% $6,860 $59,967 $-,89-75% Page 8

33 Pierce County Assessor-Treasurer 07 Residential Revaluation Report Nbhd / LEA Residential Average Assessed Value Changes by Neighborhood/LEA 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value 06 Avg Assd Value 07 Avg Assd Value CONDO % % % % $8,85 $0,59 $,77 89% $9,0 $0,96 $, % $5,7 $96,557 $,0 95% $8,7 $8,9 $9,559 89% $50,7 $68, $7, % $6,69 $0, $,70 79% % % % % MULTI $0,500 $5,800 $, % $,909,700 $,07,000 $7,00 6% $77,60 $,990 $5,8 970% $8,957 $08,00 $5, 89% $0,890 $8,5 $, 755% $68,56 $05, $6, % SFR $5,67 $55,58 $,967 9% $00,967 $,600 $,6 00% $6,76 $7,60 $, 675% $9,57 $6,65 $5,9 8% $99,589 $0, $0, % $6,06 $0,5 $8,06 058% $50,00 $556,6 $6, 906% $70,95 $96,6 $5,7 9% $8,69 $5,58 $, % $0,7 $,577 $,0 7% VACANT $7, $9,7 $, 87% $06,000 $07,050 $,050 99% $0,75 $,5 $, % $65,800 $7,67 $8,667 7% $79,00 $87,76 $8,6 05% $0,895 $06,88 $,9 09% $7,98 $,08 $,056 06% $55,790 $6,5 $7,7 859% $8,786 $55,65 $6, % $7,70 $8,65 $8,950 98% Page 9