Washingon state property tax revenue up slightly from 2011

Statewide property tax revenue rose slightly in 2012, with a total of $9.3 billion showing a 1.6 percent increase since last year, according to the Washington State Department of Revenue.

State officials reported $37 million of the $143 million increase over 2011 was the result of new construction added to the tax rolls.

About 40 percent of property taxes result from voter-approved local levies and bonds and levy lid lifts for local taxing jurisdictions, according to the revenue department.

—By the Numbers—

State and local school levies grew 2.3 percent to $5.1 billion.

The school levy share of all levies rose slightly from 54.9 percent in 2011 to 55.3 percent in 2012.

The state school levy increased 2 percent to $1.9 billion, while local voter-approved levies increased 2.5 percent to $3.2 billion.

County levies increased 1.2 percent to $1.5 billion for a 16.1 percent share of all property taxes.

City levies rose 3.2 percent to $1.2 billion for a 13.4 percent share.

Levies by junior taxing districts such as fire districts and ports dropped 2 percent to $1.4 billion, equal to a 15.2 percent share of all property tax revenue.

The average assessed value of a single family residence statewide dropped from $243,998 to $229, 908, and the average tax fell $10 to $2,708.

Assessed values and taxes ranged from a high of $350,975 and $3,992 in King County to a low of $66,141 and $682 in Garfield County.

Additional information is available in the report: “Property Tax Statistics 2012.”

Tags: , , , ,

Related Stories