Dem says property tax increase has ‘been frustrating’
If you’re struggling with recent increases in property taxes, you’re not alone. Readers and listeners have told us just how tough it is to live in Western Washington.
“It’s been frustrating,” he told KIRO Radio’s Dori Monson.
Under the proposal, property owners would see a reduction of 30 cents per $1,000 of assessed value. If passed, the proposal would bring property taxes back down to levels seen before the hefty increase homeowners are experiencing now.
The $431 million in relief would reduce property taxes by $175 for the owner of a $500,000 home, Mullet said.
That $431 million would be transferred from the budget stabilization account to the state general fund for the support of basic education. The primary reason for the double-digit property tax increases has to do with the state’s school-funding plan. School districts continue to rely on local levies to cover programs and transportation.
There’s a caveat. If property owners have already paid their taxes in full, they wouldn’t get any kind of refund if the relief package is approved. That’s why Mullet suggests people only make half the property tax payment in April and wait to see what happens in Olympia before paying the rest off in October.