Washington State is not that far away from California, but they do not seem to be able to learn from California when it comes to taxation. The Seattle Times is running this fearful story about people being forced out of their long-time homes and has hundreds more stories according to the piece.
Dennis Hall imagined living his whole life in the country-style home he and his wife built in Kirkland for $55,000 in 1980.
But the couple, now retirees on a fixed income, say the latest tax bill for their property — valued at $1.2 million — is forcing them to rethink their golden years, sell the beloved home and move. “This year was the breaking point. Enough is enough,” said Hall, 65, thinking about the big tax increase, a reflection of skyrocketing home values, voter-approved levies and a plan by state lawmakers to fully fund public schools. “We were hoping on dying here.”
With this round of property-tax notices, the couple are not alone in their worries. As the effects of the higher rates spread statewide, some homeowners are calling the tax increase a tipping point in a period of financial stress that’s forcing too-soon goodbyes to longtime homes.
Back here in CA, the Howard Jarvis Taxpayers Association, our watchdog on all things Prop. 13, notes that a group called "Make It Fair" has built a statewide anti-Prop. 13 movement that aims to go back to a "market value" basis for property taxes. One can only imagine what that would do in a market where 2 BD/2 BA condos are going for $1.4 million and scrapers are going for $2.5 million to be replaced by $4 million dollar single-family homes. Click through the link at the top of this post to see a picture of the possibilities.
I waited until April 2nd to post this so that no one would think it is an April Fool's joke.
Posted by: Joe | April 02, 2018 at 06:25 PM