Property values are on the rise again this year in King County—in some places, rising more than 10 percent.
The King County Assessor's Office has begun mailing notices to more than 700,000 property owners county-wide, according to a news release.
"Most people don't realize that the fluctuating value of your property has less to do with changes in your tax bill than do measures approved by voters," King County assessor John Wilson said in a statement. "Decisions made by voters, in terms of approving special levies; and by elected officials in terms of adopting budgets, determine the total amount of tax to be collected in your area; the value of your property determines your share of that total amount."
However, taxes are based on the assessed value of the home. So if the home value increases, so do taxes.
Appraisers with the assessor's office will be in neighborhoods over the coming weeks as the property valuation process is completed.
The county-wide number for value increases won't be available until all of the neighborhoods are appraised.
Des Moines, SeaTac, and Kent will see the highest increase at 21.2 percent, followed by Rainier Valley and Beacon Hill at 19.3 percent.
Here's the list of places jumping higher than 10 percent. It's not fully complete yet, according to the assessor's office.
The higher values don’t necessarily mean higher taxes, the news release said. Taxes increase based on levies, which are voter-approved.
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