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King County Department of Assessments

Setting values, serving the community, and promoting fairness and equity.

Department of Assessments

201 South Jackson Street, Room 708
Seattle, WA 98104

Office Hours:
Mon - Fri
8:30 a.m. to 4:30 p.m.

TEL: 206-296-7300
FAX: 206-296-5107
TTY: 206-296-7888

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Glossary of terms for commercial parcels

Classification by construction quality, which refers to the types of materials used and, the quality of workmanship.  Buildings of better quality (higher grade) cost more to build per unit of measure and command higher value.

A capitalization technique that uses the ratio between the sale price of a property and its potential gross income or its effective gross income.  Once calculated for several similar assets, a GIM may be multiplied against the income of a property to obtain an estimate of value.