80% Property Tax Increase... Loosing my Home? (Olympia: leasing, home equity, neighborhood)

[stingray427]

Originally Posted by Ultrarunner

When I started this post it was because my assessment increased 80%. My assessment is still 80% higher than last years.

At the same time, prop I-747 was thrown out by the WA Supreme Court. (I-747 limited Statewide Property Tax Increases to 1%)

The good news is that the 1% cap has been reinstated... due, in large part, to voter outrage.

It is good news and I am pleased the legislature stepped in. Home owners, as a group, have been granted some relief.

On the downside, taxing districts that have been "Banking" tax increase authority still have the right to implement all "Banked" taxes.

Also, the Assessor is still free to increase property assessments to whatever he believes the property to be worth.

The 1% cap is good, however, individual property taxes are still subject to dramatic increases based on "Banked" taxing authority and assessment increases determined solely by the Assessor's Office.

Thank You to everyone that helped make the 1% cap a reality...

Do you mean they raised your taxes 80% can they really do that at that high of a rate?
I'm hearing about alot of increases in mortgage foreclosures especially here in California. I would then think that if it is that high in Washington people would be losing their homes left and right more than California.

[Ultrarunner]

Originally Posted by stingray427

Do you mean they raised your taxes 80% can they really do that at that high of a rate?
I'm hearing about a lot of increases in mortgage foreclosures especially here in California. I would then think that if it is that high in Washington people would be losing their homes left and right more than California.

Not exactly... it is too early to know what the actual dollar amount my 2008 tax bill will be.

But, yes... the assessor increased my property tax ASSESSMENT VALUATION by 80% over last year's value... in California your maximum increase is limited by prop 13 to 2%. No such protection in Washington.

Washington property is assessed at full market value each year. The assessed value is the value used by the tax collector to determine the dollar amount of property tax check I write each year.

It is conceivable that my actual property tax bill "Could" increase by 80%.

I should know in a couple of weeks where I stand... Washington property tax is actually quite complicated and very unpredictable.

My neighbors Assessment Valuations all increased between a low of 30% to a high of nearly double over last year's values.

[stingray427]

Originally Posted by Ultrarunner

Not exactly... it is too early to know what the actual dollar amount my 2008 tax bill will be.

But, yes... the assessor increased my property tax ASSESSMENT VALUATION by 80% over last year's value... in California your maximum increase is limited by prop 13 to 2%. No such protection in Washington.

Washington property is assessed at full market value each year. The assessed value is the value used by the tax collector to determine the dollar amount of property tax check I write each year.

It is conceivable that my actual property tax bill "Could" increase by 80%.

I should know in a couple of weeks where I stand... Washington property tax is actually quite complicated and very unpredictable.

My neighbors Assessment Valuations all increased between a low of 30% to a high of nearly double over last year's values.

THAT IS TERRIBLE. YOU JUST CAN WIN

[imaquillen]

I feel so bad for you and your family. This is exactly why I moved from my home state. Washington is the new California. I'm currently living in SC where my property taxes are $50 a year--that's right. Just a small lot and home, but it's just me and my dogs. Hopefully I'll be moving to TN soon. My son and I have found a very large home on an acre (I'll be renting rooms to him and his friends who are all attending university) and the taxes for 2007 were approx $650. Washington was my home, but when the elected government, who are supposed to be forthe people, won't even listen to the people, it was time for me to find a new home.

[stingray427]

Originally Posted by imaquillen

I feel so bad for you and your family. This is exactly why I moved from my home state. Washington is the new California. I'm currently living in SC where my property taxes are $50 a year--that's right. Just a small lot and home, but it's just me and my dogs. Hopefully I'll be moving to TN soon. My son and I have found a very large home on an acre (I'll be renting rooms to him and his friends who are all attending university) and the taxes for 2007 were approx $650. Washington was my home, but when the elected government, who are supposed to be forthe people, won't even listen to the people, it was time for me to find a new home.

What's the catch to this? It sounds too good Bad weather?

Sounds like Washington has become the republic of CAlifornia #2

[bellabella2]

that really scared me

[StealthRabbit]

FWIW...

Any of you want to chat with the Clark County Treasurer regarding property taxes, let me know... She offered to get together, since I missed the tax info meeting at Camas last week due to 2 other "Land-Use-Hearings" at the same time. I'd be happy to collect a group of misfits, as long as we can be civil

My favorite poster I saw ~ 25 yrs ago, showed a cowboy Posse chasing a group of outlaws... "You're either making dust... or eat'n it..."

[KidBlue]

Good luck with your tax situation. Our taxes are pretty high. Really high I guess compared to SC and TN. But at least we know what the taxes will be year after year so we can plan.

[edlee01]

In 1978 our property taxes here in California increased 3x what they had been. However, that same year in California Proposition 13 was passed by the people which rolled this increase back - and limited any future assesasment increases to 2% per year. When your house is now sold the assessment increases to the sale price. In some instances you can take the old base to the new property.

You guys in Washington should be able to take control of your taxes. If you do something like this make sure you keep control of your taxes locally and don't send the $ to your state politicians - they will spend it all and there will be nothing left for schools, police, firemen - this is our problem now.

Good Luck

[StealthRabbit]

here is an article with a nice US map of 2006 property taxes by county. It is conservative on WA, as it only shows SEA area as most expensive @ $3000-$4500...guess I should send them my tax statement from Clark County. Kansas looks pretty clean. (but it is not good in other taxes)

http://finance.yahoo.com/focus-retir...nt-preparation

overlaying; rain / tax / temp / solar degree days / educational choice maps would rapidly help define my future nesting sites. Now for a 'cheap <$2.00) lapswimming map'