Vashon property valuations have risen for the third straight year, according to the King County Assessor’s Office, but they are still below the pre-recession levels.

Last year island home values increased by nearly 7 percent, though individual properties vary. Currently, the average value of residential properties on Vashon is $449,900, compared to $421,400 last year.

In 2008, at the real estate peak, island home values were $531,300.

Phillip Sit, a spokesman in the assessor’s office, said nearly all residential  areas in King County saw increased values in 2014, but few rose to 2008 values. He expects that to change this year as more areas catch up to or exceed 2008 levels.

The assessor’s office mailed the first round of notices late last month; mailings will continue  through October. The new property values are determined by analyzing recent sales of comparable properties in the same area as of the Jan. 1, 2015, assessment date. Additionally, he said that all Vashon properties were evaluated in person this year, which often leads to larger increases.

Sit noted that many property owners erroneously believe that their property taxes will go up the same amount as their home value. This is not the case.

On Vashon, most homeowners will not see significant changes in their property taxes, as most agencies that levy property taxes can collect only a set amount each year.

In Washington, Sit added, taxing districts are held to a 1 percent annual increase in property tax revenue, unless voters approve special levies.

Throughout the county, property taxes increased by about 4 percent in 2015.

Property owners who want more information can go online to the Department of Assessments’ website, LocalScape, where they can track property value changes and find a host of other information.