Jeff Bezos and Bill Gates live in the tony suburb of Medina on Lake Washington.
Essentially, the owner of a $2 million home — the low-end of home prices in Medina — would pay $1,680 in property taxes per year to the city under the new levy, an increase of roughly $400. Right now, the city’s homeowners pay just 64 cents for every $1,000 of assessed value, among the lowest in the state. Comparatively, Bellevue pays 94 cents for every $1,000, while Redmond pays $1.15. Seattle pays $8.29 for every $1,000 of assessed value.
!!!!!!!! No wonder retirees are advised to move away from Seattle when they no longer bring home a paycheck.
One thought on “Property Tax Rate Disparities around the Seattle area”
Right before we moved, our taxing area “magically” approved a huge increase– if we still lived where we had been, the taxes would be two to three times our mortgage payment.