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1.5.1 Assessed Value of Taxable Total Property & Annual Growth Rate
Why is this important?
Physical property constitutes one of the most important components of wealth in a community. Taxable property in Washington State consists of two categories: real, or land, buildings, and some equipment affixed to land or buildings; and personal, or machinery, equipment, furniture, and supplies used by businesses and farmers. Most personal property owned by individuals is exempt. Business inventories, including goods for resale, are also exempt. Real property usually comprises over 90% of any county's total.
From a local government fiscal perspective, the taxable value of real property provides the basis of a significant revenue stream. Its growth rate provides another measure of the health of the local economy. Due to numerous exemptions allowed by Washington law, however, many large parcels of real property are not taxable. Public investments and personal taxable property are not counted.
This indicator measures the assessed value of taxable property and the annual growth rate in Walla Walla County. The growth rate of Washington State is offered as a benchmark. Additional information, including the assessed dollar value of taxable property in the state, can be found in the “Download Data” section.
Where are we?
During 2023 in Walla Walla County, the assessed value of taxable property was $9.6 billion, increasing from $2.7 billion, since 2001.
By comparison from 2023, the annual growth rate of taxable total property in:
- Walla Walla County was 2.8%, increasing from 2.1% since 2001.
- Washington State was 8.4%, decreasing from 8.6% from 2001.
Data Sources
