The King County’s Tax Assessor’s office released information stating that aggregate King County property values increased by 21.8% in 2022. The aggregate property taxes in King County for 2023 rose by 6.4%. The numbers show that Washington State has property tax rates below the national average. However, some are saying that property taxes are driving people from their homes.
Taxes is used to fuel the government. Property taxes pay for local services like fire protection, public schools and parks. Property tax rates in Washington state can be divided into two groups: general, non-voter approved rates, and voter-approved special levies. Non-voter approved rates are used to support the ongoing functions of municipalities and counties. Voter-approved levies have specific purposes (funding a parks district, for example).
Washington State has property tax rates below the national average of 0.99%. More specifically, the state’s average effective tax rate is 0.84%. The state’s total of general, non-voter approved taxes cannot be more than 1%, and the total tax levy in an area cannot increase by more than 1% in a year. As a result of those rules, Washington State has tax rates below the national average.
A taxing district must hold a public meeting and adopt a resolution or ordinance authorizing an increase in their regular property tax as compared to the prior year’s actual levy before they can increase their highest lawful levy by the maximum 101 percent levy limit factor.
Property taxes in the county went up in 2018. It has been increasing since. Some homeowners taxes nearly doubled the last six years. Many arecsaying that they couldn’t afford to live there on a low income salary and will now move. This has become the reality for too many people in King County.
