Rising property taxes here in Seattle means different things for homeowners and homebuyers.
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According to a recent article in the Seattle Times, property taxes in our area our about to go up. The area with the lowest average property tax that the article cited was Normandy Park, at a little over 9%. The area with the highest average was Carnation, at a little over 31%.
What does this mean for homebuyers and homeowners?
If you are a homeowner, keep an eye out for your property tax assessment in the mail. Whatever your increase is, you need to budget for it moving forward.
If you are a homebuyer, be careful about the property taxes you are being quoted for any home you are interested in. You do not want the shock of moving into a house thinking you will have to make a certain payment next year only to have that payment increase, which will also increase your monthly mortgage payment.
As always, there are many steps to buying or selling a home, but the one step you need to remember is to give me a call. If you have any other questions or real estate needs, don’t hesitate to reach out to me. I’d love to help you.