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 percent of any county’s total.
This indicator measures the assessed value of total taxable property and the annual growth rate from the previous year in Chelan and Douglas counties, both individually and combined. Washington state is offered as a benchmark.
Where are we?
During 2015, the assessed value of taxable total property in Chelan and Douglas counties combined was $13.7 billion, increasing by 131 percent since 1999 when the assessed value of taxable total property was $5.9 billion.
By comparison during 2015, the annual growth rate from the previous year in:
<> Chelan and Douglas counties combined was 6.7 percent.
<> Washington state was 12.8 percent.
— Source: State Department of Revenue, County Assessor Statistics Reports.
The Institute for Public Policy and Economic Analysis is a multi-college program at Eastern Washington University. The Institute, staff and students, gathered the statistical data, wrote the explanations and designed the Chelan-Douglas Trends website: www.chelandouglastrends.ewu.edu.