Update: Property values down, property taxes up
King County residents can expect to receive their 2011 property tax bills during the week of Feb. 14. Total aggregate property tax collections in King County are up 3.33 percent in 2011 over 2010, primarily driven by voter-approved levies. Whether an individual's tax bill has increased or not from the previous year is largely dependent on their location. The total value of property in King County continued to decline for the 2011 tax roll, but the drop is less than the previous year.
"Taxpayers may be wondering how their property values can go down, but their property taxes go up. I know this seems counter-intuitive," said King County Assessor Lloyd Hara. "Several factors can cause this to happen. The most common is that voters in their area have approved a property tax measure, typically a school levy, and that increased the overall property tax levy that is reflected on the 2011 bill."
Highline voters this week approved a four-year $188 million education programs levy. The levy was a replacement for a four-year $140 million levy that expires this year. The new levy rate will not be reflected on taxes collected for 2010.