80% Property Tax Increase... Loosing my Home? (Spokane, Olympia: schools, incomes, live)

[Fat Freddy]

Originally Posted by stingray427

So which state is the lesser of two evils? California or Washington?

Washington, but it's catching up fast.

[rickers]

I didn't read all of these posts but all I can tell you is that you could always do what I did when I was economicly pushed out of So. Ca.
Move to montana and live on an Indian reservation.
Picasa link to a web album below.

Click on "slideshow", after each large pic takes its turn loading it goes to 3 second intervals.

Picasa Web Albums - Rick - Close to Clar... (broken link)

[Fat Freddy]

Originally Posted by rickers

...live on an Indian reservation...

I would love to live on the Quinault Reservation.
It's one of the most beautiful places in the world.

I don't think the Indians would go for it though.
Unless I married a Tribal woman.

But I don't think my wife would go for that.

[MellowGuy]

Originally Posted by stingray427

It is my understanding that Washington does not have a state income tax. But they make up for this in that they have very high property taxes perhaps higher than California? Is this true?

I don't know about California, but in Wisconsin, I pay 2% tax on appraised real estate and state income tax. But, my sister pays 1% tax on her house in Seattle with no income tax and a slightly higher sales tax.

Washington comes out ahead because they get considerable revenue from hydropower.

[magrack]

Originally Posted by dldavis

I have been looking to move to Washington specifically Colville and i have checked this blog at least once a week and I have decided to not move to Washington because of the property tax. I cant believe it. But i have been warned anytime you all dont have a state tax they will get you in property tax. I have decided to move to Idaho Falls instead.

Yes I am considering and never thought i would consider places like Arkansas, Okl etc.

It is so sad what I am hearing is happening to you people. Its like you need a second job to just pay your taxes.

Don't knock it till you've tried it.

I sold my place in Tacoma...1700 sf on a quarter acre about a year ago and bought a slightly larger place in AR on 4 acres with two outbuildings.

My property tax in WA was almost 3k a year and the tax rolls shows it to be assessed at 40k more than I sold it for (I sold it before the current market correction, so I'm not sure that's fair).

The property taxes on this place is $650 less $300 homestead exemption, or $350. I did add another outbuilding so it will go up a little next year but not a ridiculous amount.

Of course, AR has an income tax, but the exemptions are reasonable and a sales tax, 6% vs 8.7-9.1 depending on where you live in WA. There is also a personal property tax here based on a percentage of the valuation of those items taxed.

All in all, my tax burden was reduced by a substantial amount.

I'm not advocating anyone move to AR...it's not for everyone, but for me, with family ties here and a place where I spent my early days, it was the answer....point is, it's a big country; there's a spot for everyone (whatever your goals/desires/needs are).

[sberdrow]

Originally Posted by dldavis

I have been looking to move to Washington specifically Colville and i have checked this blog at least once a week and I have decided to not move to Washington because of the property tax. I cant believe it. But i have been warned anytime you all dont have a state tax they will get you in property tax. I have decided to move to Idaho Falls instead.

Yes I am considering and never thought i would consider places like Arkansas, Okl etc.

It is so sad what I am hearing is happening to you people. Its like you need a second job to just pay your taxes.

If you like Washington because of the scenery and dont mind not having the ocean, I have done alot of research on Arkansas, and its has the beauty, the mountains,the trees (no ferns on the ground, but lots of forest and evergreen) Large homes in nw Arkansas on lakeside property starting at 220,000. Very low prop tax. It does get on the humid side however in the summer. Nothing can beat the beauty of the Pac NW, but if your being run out of your homes...the beauty just does look as good from your apartment.

[Artful-Thang]

I was doing some research on Oregon. Oregon has both property taxes and income taxes, but both of them seem fairly reasonable. You could end up in a city with really high taxes, though, I suppose. But you can do a bit of research on the history of the area (bond measures etc.)

Yamhill County Assessor

========
Oregon - How Measure 50 Changed the Property Tax System

The objective of Measure 50 was to reduce property taxes in 1997-98 and control their future growth. It achieved these goals by cutting the 1997-98 district tax levies and making the following three changes:

· A switch to permanent rates

· The reduction of assessed values

· The limitation placed on yearly assessed value growth

One of the fundamental changes made by Measure 50 was a change in the definition of assessed, or taxable, value. Assessed value is no longer equal to real market value. For 1997-98, the assessed value of every property was reduced to 90 percent of its 1995-96 assessed value (assessed value and real market value were equal in 1995-96). Because value growth has not been uniform throughout the state, this change has varying impacts. The greatest cuts in assessed value were realized to those properties that experienced the greatest growth during the past two years. For property that did not exist in 1995-96, the assessed value was calculated as a percentage of its market value.

For existing property, Measure 50 limited the annual growth in assessed values to 3 percent, so predicting future assessed values becomes much simpler than in the past. For new property (for example, newly constructed homes), assessed value is calculated as the market value of the property times the ratio of assessed value to market value of similar existing properties. This approach to assigning values to a new property assures that it is taxed consistently with similar existing properties. Measure 50 also stipulates that assessed value may not exceed real market value. As a result, if the real market value of a property falls below its assessed value, the taxable value will be set to the real market value.

=====

There's more on the webpage, but that's the gist of it. Sounds better than CA or WA to me.

[Ultrarunner]

Yes... I think it is. Even California gives home owners property tax predictability.

Almost everyone I meet is talking about the special session the Governor called for later this week to address property taxes.

I don't know if it will be too late for me... Some communities in WA are rushing to approve new levies and taxes before the special session. I have never seen elected officials, the servants of the people, be so blatant on trying to extract every last penny from home owners...

[flu189]

Originally Posted by Ultrarunner

Yes... I think it is. Even California gives home owners property tax predictability.

Almost everyone I meet is talking about the special session the Governor called for later this week to address property taxes.

I don't know if it will be too late for me... Some communities in WA are rushing to approve new levies and taxes before the special session. I have never seen elected officials, the servants of the people, be so blatant on trying to extract every last penny from home owners...

Stumbled on this thread out of curiosity. I have the distinction of living in the highest per capita taxed state, Vermont. I must say though, our property taxes and home values from what I have read here are not even close to what you folks are going through. What in the world are your elected officials spending money on to justify taxing at the rates they are? Looks like the moving industry might just well become the hot industry of the future because even here in the northeast folks are just packing it up and leaving for locations where especially a retirees income is not picked to death.

[Ultrarunner]

Originally Posted by flu189

Stumbled on this thread out of curiosity. I have the distinction of living in the highest per capita taxed state, Vermont. I must say though, our property taxes and home values from what I have read here are not even close to what you folks are going through. What in the world are your elected officials spending money on to justify taxing at the rates they are? Looks like the moving industry might just well become the hot industry of the future because even here in the northeast folks are just packing it up and leaving for locations where especially a retirees income is not picked to death.

It is kind of a one-two punch...

Property assessments have risen over the last couple of years due in part to the influx of folks from other states.

Property in WA is assessed at the assessor's opinion of market value.

Homeowners with no intention of selling are stuck paying more taxes on the higher assessments generated from the influx of people.

The WA Supreme Court Struck last month down I-747 that limited property tax increases.

Taxing Agencies in WA are allowed to "Bank" unused tax increases and without the protection of I-747... it is legal, in some cases, to see increases of around 40%.

Wages and jobs have not kept pace... so what's your average home owner to do?

Studies have shown a gradual tax shift away from business property, with home owners picking up the slack.

Looks like rough times ahead for property owners.