With Love from the King County Tax Assessor

King County will be mailing out property tax statements for 2020 on Valentines Day… aawwww, that’s so sweet!

Homeowners will soon learn how much the tax assessor thinks their home is worth and how much property taxes will be due for 2020. Home owners may see their mortgage payments adjust depending on what their taxes for 2020 wind up being. In recent years past, many tax payers had sticker shock to see their taxes dramatically leap.

For those who are in the mortgage process, either buying or refinancing their home, property taxes can potentially impact the process if they jump high enough to impact the qualifying (debt to income) ratios. Typically this would happen only if the borrower is already pushing the limits of the qualifying ratios.

I hope your 2020 property taxes won’t bring you heartache! <3

If you are considering lowering your monthly mortgage payment with a refinance or buying a home anywhere in Washington state, I’m happy to help you! We can’t fix your property taxes, but the current very low mortgage rates (as of writing this post) may help lower your principal and interest payments enough to offset an increase. Contact me for more info!