King County Property Tax Bills Arriving Soon

King County property taxes will soon be delivered, according to a Seattle Times article of 2/23/2022.  Rates will hike 1.5% - 15% for King County homeowners depending where they live. 

School levies account for the bulk (~57%) of our property taxes.  According to King County assessor Wilson COVID hasn't been a real issue.  Most think the assessment of their home is the driver for taxes. It isn't.  For a detailed explanation read the Seattle Times article.

The Times published 2021 vs. 2022 Property Tax Bills and Residential Median Values by City.  Yep, I'm sure "Redmond" is what you've been waiting for:  

Redmond

2021  Medium  $861,000  Taxes  $7,997.00   2022  $1,005.000  Taxes $8,267.00  2021-2022  7.88% increase from 2021.

Kirkland

2021  Medium  $728,000  Taxes  $6,892.00  2022  $880,000  Taxes $7,664.00  21-22 tax change 11.2%

Bothell

2021  Medium  $634,000  Taxes  $7,180.00  2022  $758,000 Taxes $7,913.00 21-22 tax change 10.21%

2023 will be an expensive tax year.  So far two levy's are on the table.  One passed.

Lake Washington School District Construction Property tax will go in effect 2023. Hold  onto your hats.

The LWSD Construction Levy property tax  passed.  We will be taxed $0.42 / $1,000 Assessed Value. Assuming a home is conservatively assessed at $900,000 the tax will be $378.00 for year 2023. 

The LWSD Construction Levy is a new property tax.  It authorizes an average of $49.2 million per year over six years. The levy rate is estimated to be an average of $0.42 per $1,000 of assessed value. This rate combined with previously approved construction measures will total $1.32 per thousand assessed value.

The City of Redmond is planning a Public Safety Levy this year.  Again, hold onto your hats.  

In addition to looking at the needs associated with the 2007 Public Safety Levy Lid Lift, an analysis of current and future funding for public safety services will include items such as light rail security, mental health, mobile integrated health, fire coverage, and body worn cameras." [2/15 council memo]

-- Bob Yoder, 2/23/2023

Source: The Seattle Times, 2/23/22 Heidi Groover, reporter