People in Snohomish County are probably wondering why their property taxes have increases while the real estate market has softened. It is because the property taxes are based on the County’s evaluation and typically includes historic values of comparable properties.
Through the early 21st century people where watching their home values increase while property taxes stayed relatively low. Now in today’s real estate climate it is the opposite side of the spectrum. Property taxes are increasing while property values are decreasing. In the coming years this will change to reflect more accurate home value to property tax ratio because of the market correction Snohomish County has experienced
While thinking about local property taxes I was reminded of an email that circulated some time ago and it just so happens upon cleaning out an old email account it happened to be there. So in a simplified version and taking into account it is Friday, here is how property taxes are calculated.
Well it could more complicated than that but for a Friday it is worth a good laugh.
4 Comments
This is hillarious… LOL!!!!
Glad you enjoyed it Eric. Property values are being assessed in Snohomish County which will be nice in the fact the residents will see property taxes decrease a far amount.
MY TAXES SHOULD HAVE WENT DOWN ABOUT $1000.00 THEY WENT DOWN $400.00. ANOTHER RIPOFF BY THE GOV. LOW-LIFES THEY WILL EAT YOU TOO IF YOU GET IN A PLANE CRASH WITH THEM.
Hey Michael, did you submit a private appraisal to your city/county for reassessment or did you wait for the city/county to do their own?