Thurston County has been jacking assessed property values on homeowners for the past 5 years. For the 2006 assessment, a record number of valuation contests/appeals were submitted and inundated county officials. Although it’s not clear what the property really is here, it looks like Qwest isn’t any keener about the county’s game than other tax payers have been.
It's a regular dot com bubble right here in South Bay. This irresponsible assessment game is part of what is feeding the development boom as the tax assessed values really set the basement of what the open market will bear. In a manner of speaking, this is about as irresponsible as investing state pension funds into Rambus stock. Any economist worth his/her salt would be turning coal into diamonds over the thought of what happens when the margin call comes along.
Too bad for Thurston County tax payers that the county doesn’t actually employ or consult with any of those economist characters.
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