80% Property Tax Increase... Loosing my Home? (Seattle: city hall, rentals, house)

[sberdrow]

Originally Posted by Fat Freddy

Property owners never seem to complain when out of control development and real estate hype make their property values soar out of sight, especially if they plan to sell and make a killing.

But they cry and whine when they realize that they have to pay taxes on the inflated values.

Nothings wrong with that. We all have to eat, we all want to do better. Why are you beating us up for being scared about losing our homes. When property goes up in value, unless you move out of state to somewhere no body wants to live, you see very little gain. Usually the other homes also go up in value. There is very little advantage to rising home prices unless you just love to pay more taxes. Most of us DO NOT MAKE "A KILLING".

[cdelena]

Originally Posted by sean98125

There's still a 2% cap in place.

According to the 'Columbian' I-747 (the 1% cap) that was recently declared unconstitutional because the public might not of understood how much taxes were being cut. This was an amendment to I-722 (the 2%) cap that was declared unconstitutional because it mixed wording about both a tax cut and tax increase cap. This leaves us with the original cap of 6% but many lawmakers claim it could be applied retroactively as it was not used during litigation.

It appears to me we have a serious problem and have the state supreme court and the plaintiffs (Washington Citizen Action, the Washington Welfare Rights Organization Coalition, 1000 Friends of Washington (all nonprofit corporations) and Whitman County) to blame for it.

My property taxes in Texas went up the limit 10% EVERY year and helped me decide to get out. I would hate to face something similar here.

[Ultrarunner]

Originally Posted by sean98125

There's still a 2% cap in place.

King County Assessor Scott Noble calls the decision a disaster. He told KOMO radio in Seattle he's heard from one taxing district that wants to go for the maximum increase. Because the property tax increase has been "banked" for six years, Noble says property taxes could go up next year as much as 20 percent.
Gregoire has asked local governments not to raise taxes until the Legislature addresses the issue.


So how does the 2% cap factor in?

[allforcats]

Ultra, for what it's worth I remember many years ago -- 8 or 10, maybe -- a King Co. resident experiencing a similar nightmare, and going through the requisite steps to file an official protest with the county assessor's office. She did all the necessary paperwork, dotted all the i's, and WON a reduced assessment.

Do you know a lawyer, or know someone who knows a lawyer, who might suggest lunch or Saturday conversation with a colleague who's knowledgeable?

[stingray427]

Maybe California isn't that bad after all as far as property taxes goes but it is just too crowded down here with just too much traffic.

[Fat Freddy]

Originally Posted by sberdrow

...There is very little advantage to rising home prices unless you just love to pay more taxes...

Yes, that was my point.

I was commenting that we don't seem to realize that while it is happening, only after it has taken place and we experience the fallout of higher taxes, while those who caused and manipulated the rise in property values profit from it.

[StealthRabbit]

just got next yr's 're-assessment' in the mail today.

up 70% last year but only up 20% this yr (in a down market...)

The problem being... 20% of a previously high $12000 tax bill is some serious green !!! (from $33/day to $39/day, that is a 6 Frostie (or Jr. Bacon Cheesburger)/ day increase!!) Ouch... when I left my Equalization hearing last spring, and AFTER they turned the tape recorder off... they said "we'll get you next time" with a grin and a chuckle... As previously mentioned... they will ALWAYS get what they want. (including our homes) ... So much for the emergency legislative session on Nov 29th to address capping the Property tax increases at 1%; its way too late to help me (or many of you). I really feel sorry for those who are retired or poor and trying to keep their homes. You can't pay WA property taxes at the annual income of a Walmart greeter.

If there is a serious economic downturn such as in the 80's, it could get very unpleasant here.

[cdelena]

I just got my appraisal for my Clark County home... up 8% which I guess is not bad in comparison but we are in a down market right now.

[sberdrow]

Originally Posted by cdelena

I just got my appraisal for my Clark County home... up 8% which I guess is not bad in comparison but we are in a down market right now.

can anybody explaine why its up when the market is down. I think you should challenge this. I thought it was based on appraisal cost. Eventually we are all going to have to move to Arkansas where prop taxes are about 600 dollars a year on 200k (almost moved there).

[Ultrarunner]

Originally Posted by sberdrow

can anybody explaine why its up when the market is down. I think you should challenge this. I thought it was based on appraisal cost. Eventually we are all going to have to move to Arkansas where prop taxes are about 600 dollars a year on 200k (almost moved there).

The window for appeal has past.

Thurston county uses data from one year ago to form their opinion of value... so in a down market... you are out of luck... the Assessor won't even consider sale comps from this year...