According to this article in the Seattle PI, King County Tax Assessor Scott Noble is warning of possibly the largest property tax increase in Washington State’s history.
"This change … will produce the biggest property tax increase onto residential property owners in the history of the state of Washington," Noble said in an e-mailed warning last week to Finance Committee chairmen.
In King County alone, the change would shift as much as $200 million of taxes onto residential property owners, he said.
"In our budget-based property tax system, reductions of valuations will produce tax shifts onto other taxpayers, and my experience with advocates from our large commercial taxpayers suggests a large increase of appeals and lawsuits from these property owners who have sizable resources," Noble said in the e-mail.
Concerned? You may want to contact your state representatives to express your concern, if any, of having your property taxes increased for the benefit of commercial business.