Have you looked at your property tax bill lately? The city has put forward Prop 1 (safety) and Prop 2 (parks), which will add a total of $174.50/year or $14.50/month to the median homeowner’s tax bill. The levy focuses on new sidewalks, fixing potholes, fighting the "recent increase" in property crime and renovating four neighborhood parks. Currently the city tax on a $474,000 assessed home is $705.55 or 15% of the total tax bill of $4736.00. If the Propositions were approved the city property tax would increase by approximately 25%. Personally, I don't see a significant rise in property crime in my neighborhood or deteriorating parks and roads that would justify such a large increase in my tax bill.
Keep in mind, property values have increased significantly this last year so local governments have a revenue cushion. The assessed value of an 1800 square foot home on Education Hill increased by 12% between 2013 and 2014 ($418K to $474K). Assessed values will likely increase again in 2015. The incremental tax dollars brought into the city by rising property values should be cushion enough to pay for the Administration's needs. Keep in mind voters may also have to budget for a LWSD bond that could be forthcoming in 2016. We have to draw the line somewhere on where our tax dollars will be spent. Redmond is becoming a very expensive place to live for the average working family and those on fixed incomes. I will be voting "NO" on the City's Proposition 1 and 2. The city appears to be humming along just fine. What do you think?
By Bob Yoder
Keep in mind, property values have increased significantly this last year so local governments have a revenue cushion. The assessed value of an 1800 square foot home on Education Hill increased by 12% between 2013 and 2014 ($418K to $474K). Assessed values will likely increase again in 2015. The incremental tax dollars brought into the city by rising property values should be cushion enough to pay for the Administration's needs. Keep in mind voters may also have to budget for a LWSD bond that could be forthcoming in 2016. We have to draw the line somewhere on where our tax dollars will be spent. Redmond is becoming a very expensive place to live for the average working family and those on fixed incomes. I will be voting "NO" on the City's Proposition 1 and 2. The city appears to be humming along just fine. What do you think?
By Bob Yoder
Also remember LWSD (schools) will attempt their fourth try at passing a bond for school construction in 2016. LWSD is know for building school palaces at $400 sq/ft or nearly double the national average for new construction. Although numbers haven't be made public, the last bond would have added nearly $500/ year in additional property tax for the average home owner.
ReplyDeleteFurthermore, KCLS (library) will also attempt to pass a bond adding another hundred bucks or so.
Local governments are expensive to run. I agree. We often forget that we are taxed by Evergreen Health Hospital. The hospital tax on my property amounts to $190.74/year or 4% of my total tax bill. They could certainly compete with Overlake and Group Health without having to tax us!
ReplyDeleteWait, LWSD is asking for $$ AGAIN???? But I thought they saved all this money by refinancing the bonds!
ReplyDeleteAs for Prop. 1 and 2, I'm all for increasing safety but frankly we don't need more parks until the city takes care of transportation/traffic issues.
Anecdotally I have seen significantly more 'property crime' here on Education Hill in the last few years, and while I'm stingy with my tax dollars (and other dollars!), I do think prudent increases in public safety funding would improve safety and residents' comfort level with property, etc.
ReplyDeleteI do agree that traffic/transportation issues are an urgent need and not just for a 'coalition' across cities/county, etc. The local traffic on Ed Hill is truly ridiculous and road capacity has not kept pace with housing and employment growth. I hope all the mayor/council candidates will be asked what specific steps they would take to address this problem NOW, not just a 20yr master plan, etc.
Paige, I wanted to clarify that the Lake Washington School District bond refinancing did not provide the district with any more money. Instead, it is saving taxpayers money. The district received the funds from the bonds up front. Now, by refinancing, it has been able to secure a lower interest rate, which means taxpayers will pay less interest. That's a good thing but it does not give the district any additional money to pay for classrooms for the 600-800 more students who are arriving every year with all the growth.
ReplyDeleteAnonymous, the district shared during both campaigns exactly what the bonds would cost the average homeowner. For the first bond, it was an additional $360 a year for the bond and two levies. For the second bond, it was an additional $125. In addition, the per square foot costs, far lower than the number you cite, were for the entire cost of the project, including interiors, furnishings and technology. We provided the full cost so that taxpayers know exactly what they are buying. That number should not be compared to the square foot cost of construction that does not include all of those items and does not have to meet the additional codes that school buildings do.
Kathryn Reith
Communications Director
I liked your opinion piece against props 1 and 2. The city does really seem to be doing fine and it's good to know that there's differing opinions out here in Redmond. I usually vote yes on tax increases if they sound useful but this time I feel differently. I'm pretty liberal but I think it's a lazy approach to government to assume that if your voting base leans democrat or liberal that they will vote yes to tax increases all the time. I don't appreciate how city governments will try overdone and tired fear mongering tactics to up taxes and like you I don't notice much property crime either. They can't always get what they want! Especially right before a major election voting year. Let's hope this doesn't pass and watch them squirm to come up with more reasonable solutions for our city and I hope more residents get community involved like you do.
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