Comments on: Why Your Property Tax Value Increases While Your Market Value Declines

By: Terry Persson

Terry Persson — Sat, 21 Feb 2009 14:33:34 +0000

VOODOO ECONOMICS MONEY IN THE BANK FOR RENTON SCHOOL DISTRICT
When it comes to property tax increases for 2009, count your lucky stars you don’t live in Renton. The Renton School District raised my taxes due to them by more than 47%. Then they had the nerve to say, not to worry, we did not change the rate. Voodoo economics is the word of the day from the Renton School Administration. They pushed this type of misinformation to inform the misinformed that the School Bond issue would not raise their property taxes. Bet me. A 47 percent increase across the board in Renton for School taxes does not mean a decrease or we won’t raise your taxes. It’s no wonder that the Renton School District was rated as one of the lowest performing Educational districts in the State of Washington.

By: Jacalyn

Jacalyn — Tue, 12 Aug 2008 15:24:33 +0000

We have lived in our house on our property since 1991 and seen a soaring rise in property taxes. I am seriously doubtful that we would even get close to the amount we are assessed at should we decide to sell. Our street is full of for sale signs. I think it is time that something be done. Any ideas on an effective way to make our voices heard?

By: George Malay

George Malay — Mon, 11 Aug 2008 03:13:47 +0000

What enrages me most about this property tax is that it means we will no longer be able to afford our mortgages and that is not even a factor in the policy maker’s agenda. Since we bought our house two and a half years ago, our assessed value has risen by $100,000 which means about a $400 a month increase to our monthly mortgage payment. We bought as much house as we could afford and now it is becoming out of our reach because of the arbitrary nature of assessing and collecting property tax in this state. Christine Gregoire you should be ashamed.

By: JimW

JimW — Thu, 10 Jul 2008 20:19:41 +0000

Went through the process of appeal with King County this past year. Unfortunately, my appeal for a decrease in value was rejected. However, it did become obvious to me why it was rejected. I lacked evidence of solid comps selling for less.

I believe if you walk into your hearing with several pieces of data showing that comparable homes in your neighborhood are selling for less, they will decrease you value.

With all the tools Redfin has, that can’t be too hard!

By: Katrina Munsell

Katrina Munsell — Tue, 08 Jul 2008 20:47:35 +0000

Thanks, Debra. Yes, it was shocking to learn about this three year valuation period, which means we could be seeing our home valuations rise even more as the current market sinks even lower. Over and over we are told that property tax is based on the market value of your home, which to me implies *current* market value, not 2005 or even 2006!

As you point out, it’s nice and easy to swallow when your house is taxed at a value below market prices, but when you are taxed at rates above what you could sell for–that’s a different story.

By: Debra Sinick

Debra Sinick — Tue, 08 Jul 2008 16:56:02 +0000

Good post, Katrina. The key here is tax assessments are usually based on the previous three years. In the past, this was good news because sales prices were going up, so taxes were based on lesser values from the previous years. Now of course, this may no longer be the case.

By: June MLS Report: Inventory Down, Pending Sales Up | Redfin Seattle Sweet Digs

Tue, 08 Jul 2008 01:13:36 +0000

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