RCW 84.70.010 provides that if, on or before December 31 in any calendar year, any property placed upon the assessment roll of that year is destroyed in whole or in part, the true and fair value of such property shall be reduced for that assessment year. The amount of reduction is determined by taking the true and fair value of such taxable property before the destruction or reduction in value and deducting true and fair value of the remaining property after destruction or reduction in value.
If the true and fair value has been reduced under this section, then taxes levied for collection in the year in which the true and fair value has been reduced shall be abated in whole or in part. The method for determining how this tax abatement is calculated is described in RCW 84.70.010(2). If taxes abated under this section have already been paid, the amount paid shall be refunded under RCW 84.69.020. The tax relief provided for in this section does not apply to property damaged or destroyed voluntarily for the tax year in which the damage or destruction occurred.