It had bipartisan support, but more Republicans 57 than Democrats 41 voted for the education-funding measure, House Bill , when it passed the Legislature in Voting no were 31 Democrats and 12 Republicans. The measure was signed into law by Democratic Gov.
Property-tax Q&A: Why is your King County bill going up so much — and where is the money going?
Jay Inslee. The split makes political sense when you consider the new law is projected to cut property taxes over the next few years in many poorer and rural school districts — which tend to be represented by Republicans. Taxes will remain higher in richer areas, such as Seattle, Bellevue and Mercer Island. A: Yes. Inslee and other Democrats have proposed taxing capital-gains income for wealthier households, as well as carbon emissions, to fund schools.
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But those proposals have not gained enough traction in the Legislature. Although the property tax is an expense that is likely to be passed on, the rental market has been softening some lately , so landlords must weigh how much they can raise rents and still stay competitive.
William Shadbolt, who owns 11 rental houses and duplexes in Renton and Seattle, said taxes rose 12 to 20 percent on those properties. He estimates that will translate into rent increases of 8 to 12 percent. Neil Wilson, who owns seven rentals on Beacon Hill, said his property taxes have more than doubled since Contact your Ticor Title Sales Executive for more information today! Get Started. There are few things in life that are as certain as taxes, especially when it comes to buying, selling, and owning real estate.
Click here to download a printable version of the Property Tax annual cycle. Property taxes have a timeline that is different than most other taxes or bills that we pay. Because taxes are due toward the middle of the period they cover, a real estate seller may receive a refund or pay prorated taxes depending on the closing date. For example, a sale that closes in March will have both parties paying prorated taxes: the seller pays for January 1 st to date of closing, and the buyer pays from the closing date to June 30 th.
A closing that happens in May , would give the seller a refund for prorated taxes from the closing date to the end of June, since the seller would have paid in April for the entire first half of the year. King County mails out a statement in the middle of February. Washington State law RCW So the first half is typically payable any time between Feb 15 th and April 30 th ; and the second half is typically payable any time between Feb 15 th and October 31 st. It is not necessary to have a tax statement to mail in with your payment. If you decide to mail in your payment without a tax statement, you must write your tax account number on the check.
The two factors used in the calculation of taxes are the assessed value of the property and the levy rate for that area.
Puget Sound Regional Branch - Washington State Archives - WA Secretary of State
Levy rates are represented in dollars per thousand, so to calculate the tax amount multiply the assessed value by the levy rate and divide by 1, In addition there can be fees added by the county to cover specific services like noxious weed control. The levy rates are determined by a number of factors, including the results of voter-approved levies.
In other words, the assessed valuation statement you get in the 2 nd half of this year has no effect on the taxes you are paying this year. The assessed value is typically the same as the taxable value except in cases where the taxpayer has applied for and received an exemption.
For example, senior and disabled property owners may qualify for tax reductions. In some cases home improvements may qualify for a 3-year exemption for taxes on the value of the improvement. For more information on possible exemptions or tax defererals, contact the Assessor-Treasurer for the county in which the property is located. Here are some examples of tax relief programs and special classifications that may be available in your area:.
Once you have installed the app on your mobile device, you will need a Pocket Profile account login to access property information for your area. Your Ticor Title Sales Executive can provide you with a username and password.
Access to recorded documents and full legal descriptions after hours, on weekends, and on the go saves time and may help avoid certain business delays for our Lending and Real Estate partners! Pocket Profile puts document access in your hands.
Online records search
Quite simply, the Ticor Pocket Profile App enables users to access property profiles from their Android or Apple mobile device. Users have the option to search for properties by address, owner name, parcel number, nearby properties, or even by taking a snapshot of a house.
This new time-saving feature can be used when previewing properties with clients, at open houses, or when driving through a neighborhood. The app will display a map with several red pins representing nearby parcels.
Tap one of the pins to access a property profile for that parcel. In order to use the Ticor Pocket Profile app, you will need an account which can be provided to you by your Ticor sales executive.
Property profiles in the Puget Sound region are provided at no charge to you. Ticor Pocket Profile app overview and video review Ticor Agent 2. Because that number is expected to increase, savvy real estate professionals are equipping themselves with the tools necessary to efficiently handle more short sale transactions than ever before. In addition, we are seeing loan servicers provide tools, structure, and education for the purpose of making the debt settlement process flow more efficiently for all parties involved.
Click the image below to download the loan history flow chart. At Ticor, we recognize that one of the key tools that real estate professionals need is loan history information that includes recorded documents deeds for local properties.
The benefit to the real estate professional is they will be better equipped to help facilitate the completion of the short sale package in a timely manner as required by the loan servicer. If you would like access to the property information available via MyTicor. If you do not currently have a Sales Executive, please call Sometimes questions arise as to the exact nature of certain residential properties: It looks like a house but is it a condo, a townhome, built on a lot in a plat or what?
No worries! Your Ticor Customer Service team is happy to help you clear up this sometimes murky issue. Click the image below to download a printable version of this article. The answer may be found with how it was first recorded. The primary difference between a condo and other forms of development is the ownership of the land.
Typical common elements include interior hallways, building exteriors, elevators, landscaping, and recreational amenities like swimming pools. Parking may be assigned to specific units, may be held as separate tax parcels, may be common elements, or may be a combination. Plat: 1. Generic term meaning any type of recorded subdivision.
Specifically a recorded division of detached, single family homes. Homeowners in a plat own the parcel of land and the structure s built on it, and may or may not also have an interest in common areas. Common areas may be owned in percentage by some or all of the homeowners, or may be held by the Homeowners Association as a separate entity. That will open a new window. In the new window, look for the Property Tax Bill box in the bar above the parcel section. When you click on that, it will open a new window and automatically generate your real property tax number in the search box.
Your parcel number should show up as the real property tax account number in the middle search section for Real Property Tax. That should bring up your property tax information after Feb. It also lists property tax amounts for previous years. The customer service line is staffed from a. You also can follow this form to send an online message. In King County, the average increase is nearly 17 percent — and possibly even higher if your property received a new assessment notice.
Residents in the city of Carnation are expected to see a property tax bill more than 30 percent higher. If your property was assessed at a higher value than in previous years — meaning that you could see an even higher amount in addition to the expected increase — you would have received a notice in the mail in Sign in using your kiro profile Need a profile? Welcome back. Use another account.
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