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King County Department of Assessments

Fair, Equitable, and Understandable Property Valuations

Department of Assessments

500 Fourth Avenue,
Suite ADM-AS-0708,
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

POTENTIAL GROSS INCOME (PGI)
Potential gross income is annual economic rent for the property at 100 percent occupancy.

PHYSICAL INSPECTION
At a minimum, an exterior observation of the property to determine whether there have been any changes in the physical characteristics that affect value.  The property improvement record must be appropriately dcoumented in accordance with the findings of the physical inspection.  (Defined in WAC 458-07-015)