Friday, February 19, 2016

Property Taxes

A new year means new property taxes.  The 2016 general county property taxes become a lien on real property the moment that the new year begins even though the new tax amounts are not made available to the public until they have been certified by the assessor and the treasurer in early February.  Don't be surprised to find a special exception on your title commitment for 2016 taxes that are "not yet due or payable."  The treasurer will not accept any payment of 2016 taxes until after February 15th.  The first half tax bill becomes delinquent if unpaid on May 1st and the second half tax bill becomes delinquent if unpaid on November 1st.

If your annual income does not exceed $35,000 and you own and reside in your home, including mobile homes, you may be entitled to a property tax reduction.  You must be at least 61 years of age or, if under 61 years, retired because of a disability and unable to work.  Property taxes may be deferred under certain conditions.  For details, visit the King County Department of Assessment, Taxpayer Assistance - Tax Relief webpage and go to the Senior Citizens/Disabled Exemption section or call 206.296.3920.

For taxes and property information call Chicago Title, Customer Service at 206.524.2405.
Today's blog courtesy of Sandy Andersen, Chicago Title Insurance Company of Washington
Happy Investing!

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