Property taxes are always irritating. Homeowners (myself included) hate to pay them. Doesn’t it always feel like we’re being picked-on by the school-yard bully? And yet, because of voter approved increases and the fact that schools, police, fire departments and other public services are funded through this tax, they are a necessary evil. Truly, I don’t mind being taxed when I know my schools are being funded (even though I have no children) or, if my neighbor’s house is on fire, the fire department will come to the rescue!
So, house values here in Kenmore, WA are down 9% since last year. So shouldn’t my property taxes go down? Not this year I’m afraid:
Here’s what Rich Medved, chief deputy to the King County assessor had to say about the property tax assessments for 2009: “there’s still no correlation between property value and tax bills.”
In today’s Seattle Times article entitled “King County property taxes to rise 6.16 percent overall” the County explained why, in spite of falling home prices (values?), property taxes will be rising this year. Basically, property taxes are calculated from assessed home values from the previous January. Also, according to the article:
“In King County, the costs of state and local government determine how much property tax will be levied. These include operating costs of schools, city and county government and other taxing districts such as the Port of Seattle, library, hospital, fire and sewer districts.
A large chunk of each property-tax dollar goes to pay off bonds for such capital costs as school buildings and other public projects.”
This is just another shot of economic reality for home owners and residents of the Seattle/King County area. Times are, indeed, tough. For those of you who want more information regarding the county’s process or have questions for the Assessor’s office, you can go to: http://www.kingcounty.gov/Assessor.aspx
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I am an Associate Broker with Keller Williams North Seattle. I have lived in the Northwest for 22 years, grew up in Utah and was born in Nevada. A real Westerner who prefers a tandem bike to a horse!
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Property taxes can be irritating but when we realize what they pay for, it should help to remind us that they are an investment in the health and security of our community. I hope I don't need the fire department but I want to know that they are going to show up and know what to do as well as have the equipment to do it if I do need them. Besides, if that EMT buys a house, maybe I'll be his agent!
Hi Deb - I couldn't agree with you more! Here's the overwhelming problem about discussing taxes in America:
1) Certain political philosophies have managed to frame the discussion of taxes as a negative function of government. Taxes = evil.
2) These same political idealogues have framed the arguments against taxes by calling it "tax relief." This assumes that taxes are onerous in the first place.
3) The political right believes that the progressives frame the tax argument by calling (as you so correctly did) taxes investments. (They aren't buying that.)
4) Everyone has a complaint, but no one wants to confront the brutal fact that we do need tax reform in America. Also, neither side wants to listen to the other.
Ultimately, there are too many special interests involved with the current tax system to initiate meaningful change. If we really did enact a flat tax, national sales tax, value-added tax or other seemingly simpler systems there would be a lot of accountants out of a job. I used to have a friend who always said, "Hey, taxes are OK as long as someone else is paying them!"
Here in WA we don't have a state income tax. As a result, there probably is an imbalance in tax payment. I wish I had a magic wand an could fix the problem.