Wednesday, February 4, 2015

King County Tax Rate

What is the calculation formula for figuring your estimated property taxes in King County?

It depends on where you live within King County.

First step is to go to King County Tax Assessor’s website at:

· You can Search by Your Address or Parcel Number

· On the information page for the property you will see the Total Levy Rate Distribution

· You need to know your Levy Code for the address: we are using 0010

· You need to know the Total Levy Rate: ours is $10.29168.

· You need to know the assessed value for your property which is located on the same page. It is the land value + improvement value = taxable value

· Taxable Value $382

You can estimate what your property taxes will be if you know the "assessed value" of your property and the tax levy rate. For example, if the assessed value of your property is $200,000 and the levy rate is $13 per thousand dollars of value:

200 ($200,000 divided by 1,000)


x $13


$2,600 estimated tax

Happy Investing!

Thanks again to Bernita McKinnion for her assistance in putting together today's blog.


No comments: