King County Property Taxes Rise At 'Unprecedented' Rates; 2023Tax Hikes Likely

Property Value Data Released 5/13/2022

 "King county hasn’t yet determined next year’s 2023 property tax bills, but the hottest local housing markets are likely to see “a double-digit increase,” said King County Assessor John Wilson."

"The local market has taken off since early in the pandemic, spurred by a combination of few houses for sale, a flood of buyers taking advantage of low mortgage-interest rates, and a continuing influx of highly paid workers with stock options. That has driven up home prices across the region and worsened housing affordability. The median sale price for a single-family house in King County hit nearly $1 million last month."

-- By Heidi Grover, Seattle Times business reporter, 5/13/2022 (excerpted, edited)