Has everyone got their King County property tax assessments? Mine went from about 3600 to 5400. Can't believe it.
Might be time to sell. I'm part time at work and am close to RE. It's too expensive to keep if I'm out of town most of the time and too expensive to rent (could maybe rent for $2200 but calculate the monthly expenses to be $1150, excluding one-off expenses like finding a renter, cleaning, and repairs).
Yep -- there was a big bump this year due to the McCleary school funding issues. In general, property taxes will probably keep going up, but I think the significant bump this year is an anomaly.
Seattle Times had an article on this a couple of weeks ago:
https://www.seattletimes.com/seattle-news/king-county-property-taxes-rising-between-9-and-31-percent-depending-on-your-city/Property tax bills headed for King County households this month will show big increases that vary widely city by city, according to a new breakdown by King County Assessor John Wilson.
Countywide, the 2018 property tax bills will be 17 percent higher on average than last year’s — due in large part to a school-funding plan approved by the state Legislature and Gov. Jay Inslee last year. That plan, to comply with a state Supreme Court ruling known as the McCleary decision, raised the state property tax rate by $1.01 per $1,000 of assessed valuation, the assessor’s office said.
Bailey Stober, a spokesman for the assessor, said Tuesday the 2018 boost is “the largest property-tax increase in King County in modern history.”
In its new breakdown, the assessor’s office is publicizing the expected tax increases in nearly 40 cities and towns.
The small town of Carnation will see the largest spike, with the tax on the median-assessed-value property ($379,000) rising 31 percent, or more than $1,000, compared with the median property last year.
Normandy Park will get the smallest percentage increase, 9 percent, with taxes for the median-valued home ($559,000) rising nearly $670.
Other cities fall somewhere in the middle. Seattle’s tax increase will be 16.9 percent, so the owner of a median-valued home ($597,000) in the state’s largest city will pay about $825 more than the owner of a median-valued home last year.
In Bellevue, the increase will be 21.6 percent, with the owner of a median-valued home ($791,000) paying $1,300 more than the owner of a median-valued home last year.
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