Your annual property tax bill just arrived in the mail from the assessor’s office. There is nothing worse than receiving that announcement detailing how much money in county taxes you will owe this year.
Tax man cometh. Tax man taketh away.
The billing statement reminds property owners the amount due by April 30 and Oct. 31, usually in equal amounts. Owners only receive an annual statement and, unlike 2020, taxpayers will not get a pandemic-related extension this year.
If paying a mortgage, the homeowner’s loan servicing company will typically receive the tax notice and take care of the bill by the due dates. You have nothing to worry about, but it doesn’t hurt to contact your servicer to confirm.
Like every tax year, the bill almost always goes up … and up. Not so this year.
Driven by voter-approved special levies and a strengthening housing market, King County taxes will rise 4% on average. The county assessor’s office said the increases will be sharpest in the south, with Algona seeing an 18% jump and Maple Valley rising 15%. Skykomish and Hunts Point actually saw tax rates fall, by about 2.5% each.
Taxes also fell in Seattle by about 1.5%, or roughly $92.50 per home. The drop followed a slight decline in median home values, to $674,000 from $690,000 in 2019. The median value rose in Bellevue, to $961,000 from $936,000, and median taxes increased 4.3%.
One of the biggest levies coming due starting this year is a $1.74 billion bond measure for improvements to Harborview Medical Center. This was passed by King County voters and will be part of property owners’ tax bills for the next 20 years.
To find the tax amount for 2021, go to the King County assessor’s website and plug in a tax parcel number. Not sure of the parcel number? It can be found on a home purchase contract or previous county property tax report. Homeowners may also use eReal Property Search to look up parcel information by entering an address.
One would think tax rates would have fallen more broadly because of the recession and pandemic. Not so! Property taxes are calculated on values set Jan. 1 of the preceding year, so rates for 2021 were established before the economic and health crises hit our shores. (Wait until next year, right?)
What if you do not agree with the tax assessment? Well…you could appeal but you probably won’t get far with a claim, since bills are based on last year’s assessments and the assessor’s office has rejected a majority of appeals in recent years (so I have heard). Consult a real estate attorney and/or financial advisor for assistance.
There are payment plans and exemptions available to those who cannot satisfy the bill, including for seniors and people with disabilities.
The next round of property assessments takes place between May and November. That’s when property owners will get a so-called value notice card informing them of their updated assessed property value. Appeals can be made through the county website but must be submitted within 60 days’ receipt of the notice card. (For future reference, you can receive the cards electronically.)
The county also offers a nice selection of FAQs to help guide you through the topic, including how to pay online.
Elsewhere, the Pierce County Assessor-Treasurer’s Office in February announced property taxes countywide will see a 4.8% increase this year over 2020. The Snohomish County Treasurer’s Office has yet to release its tax info for 2021; statements must be sent by mid-March.