PORT LUDLOW — Jefferson County Assessor Jack Westerman addressed the concerns of a local committee Thursday interested in better understanding property assessment.
The property tax committee was formed in January to review the tax assessment process and shed light on apparent disparities in valuations.
During Thursday’s meeting, committee members expressed concern over a number of issues including under-assessment of commercial properties in Port Ludlow and the lack of published definitions regarding how property is assessed in the county.
Westerman confirmed Port Ludlow commercial properties are under-assessed and that they might be worth more than four times the values determined three years ago.
“That means everybody else is paying a higher burden,” said group member and commercial real estate broker Bert Loomis.
But Westerman said that could change in the summer of 2003 when Port Ludlow values are reassessed.
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