Property tax bills have started arriving in islanders’ mailboxes, with the owner of a typical Vashon residence receiving a bill that’s about 8% higher than last year.
According to the King County Assessor’s Office, the median assessed value of Vashon homes — a factor in calculating property taxes — jumped from $589,000 to $702,000, an increase of more than 19 percent.
However — mostly because of limits on how much the state, county and other taxing districts can increase their levies year-over-year — taxes paid by the owner of that $702,000 home will increase by only 8.3% in 2022, from $7,305 to $7,914, or $609 dollars more.
The sticker shock was worse in 2021, when property taxes rose by 11.5%, according to the Assessor’s office.
Property taxes rose even more in 2018, when Vashon rates jumped, on average, by 24%. That was the year the new McCleary school property tax kicked in, at the same time a levy lid lift by Vashon Island Fire & Rescue occurred.
This year, despite the more modest increase in property taxes, some local land and homeowners may actually see smaller tax bills. These include the owners of residential undeveloped land and manufactured houses.
The assessor’s office has determined that these types of properties only rose in value by 9.9% between January 2020 and January 2021.
With their larger increases in value, stick-built houses now constitute a somewhat larger share of the island’s tax base, and therefore assume a somewhat larger share of the tax burden.
All islanders’ property tax bills will also include about $300 in fees — mostly for surface-water management — regardless of their property’s assessed value.
Throughout King County, property tax increases will vary in 2022, with some communities faring better than others.
According to a chart provided by the assessor’s office, Tukwila will see an increase of approximately 15% in property taxes. Kent’s increase will be almost 13%. Mercer Island, in contrast, will only see a 3.5% increase. Seattle’s property tax bills will increase by 7%.
In a press release, King County Assessor John Wilson explained the difference in rates between communities in King County.
“Residential property values have continued to rise during the COVID 19 pandemic, partly driven by a lack of housing inventory,” said Wilson. “Still, it is important to remember that voter-approved levies, and not the value of your property, is the primary cause of increased property taxes. Local governments may only increase property tax collections by 1% per year without a vote of the people. Voter approved levies are not subject to that restriction.”
Property taxes also vary depending upon location, the assessed value of the property, and the number of jurisdictions levying taxes.
King County collects property taxes on behalf of the state, the county, cities, and taxing districts (such as school and fire districts) and distributes the revenue to these local governments.
About 57 percent of property tax revenues collected in King County in 2022 will pay for schools. Property taxes also fund voter-approved measures for veterans and seniors, fire protection, and parks. King County receives about 17% of property tax payments for roads, police, criminal justice, public health, elections, and parks, among other services.
On Vashon, the distribution of property taxes in 2022 will see about 47% of tax dollars going to the local school district and the state school fund, about 14% supporting King County Roads, 12% supporting the fire district and 11% supporting county government. Smaller percentages of tax dollars, of less than 5% each, support Vashon’s Health Care District, the King County Library System, Vashon Park District and other public agencies. (See graphic.)
Property owners can find tax levy rates and more property-related information by visiting the eReal Property Search at kingcounty.gov/assessor or by calling 206-296-7300.
Low-income seniors, veterans and disabled homeowners can find out about programs for property tax relief at kingcounty.gov/depts/assessor/TaxRelief.
