The median property tax in King County, Washington is $3,572 per year for a home worth the median value of $407,700. King County collects, on average, 0.88% of a property's assessed fair market value as property tax.
Tax-payer.org says King County has one of the highest property tax rate in the country.
In 1976,my wife and I bought a home on the east side of Seattle. Microsoft was rapidly
becoming a major player in the tech world. My little town of Kirkland had the neatest
small shops anywhere. The street I lived on had small houses built in the 1960n era,
We paid $19,000 for our house. It was a cottage, if you stood on my back-deck, you
could see Lake Washington.
We sold our house to my wife's brother and bought a bigger house on an acre for $49.000. We sold the house later for $200,000.
My ex-brother in law says his property tax this year is $7,000. He makes $40,000 a
year. I hadn't been on the street where our house is on in years. Half the
houses have been torn down and new $500,000 homes are constantly being built.
The house I paid $19,000 for in 1976,is now worth close to $500,000.tThe town
I remember now has several high end expensive stores.
Tom, the current owner is moving out of state. A cheaper house CAN be purchased
in Washington state, but it is at least 40 miles from Seattle. The transportation
system in Washington state is a joke, I used to be able to drive from Seattle to our
capital in Olympia in a hour. Now it would take at least 2 or 3 hours.
Young people coming out of college hopefully are getting degree's in a field a company
would want to hire them. If you want to rent on the east side of Seattle, be prepared to
spend at least $2,300 for a three bedroom apartment a two-bedroom place costs
between $1,300 -$1,900.
Our state and maybe yours, needs to have a lower property tax rate for owners who
have lived in their house over 20 years. It's fine to say what the value of the house is
If the owner sells, then taxes not collected could be added on at the time of sale..
There are exemptions for poor people and for Veterans but most homeowners make
more than $36,000.
The safety net has a huge new hole in it. Older folks who want to stay in their homes
need to be saving $5000 at least every year to pay taxes. People will have to find cities
where homeownership is possible for all. Unless your a Veteran, plan on putting
down at least 20% of the selling price of your new home.
The upper income of our population will expand for many in years to come. Other
folks who don't make a certain salary, should expect their partner to work as well.
Saving your money better be part of your routine.
In Washington state, people wait around 6 years to get low income housing. Folks
will not retire until much later in their life. My ex-brother-in-law is searching
the Country for cheaper places to live.
If my mother should come back to life, she would be stunned when she would see
a cell-phone, computer, cars that talk to you, fax machines, grocery stores where
you check yourself out. She would be shocked when she called a business and talked
to a machine.
She would also ask," Is this new world a good thing or bad thing?" I would have to say,
It depends on who you are.
-Knowledge is a process of piling up facts:
wisdom lies in their simplification.
-Martin Fisher
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