King County has one of the highest median property taxes in the United States, and is ranked 102nd of the 3143 counties in order of median property taxes. Since tax rates are stated in terms of dollars per $1,000 of value, the 1% limit is the same as $10 per $1,000 and is often referred to as the $10 limit. The Washington State Constitution limits the annual rate of property taxes that may be imposed on an individual parcel of property to 1% of its true and fair value. The median rate of 1.01% of property estimation, contrasted with New Jersey, which has the highest rate median of 2.47%. Seattle property tax, then again, is one of the highest median property taxes in the United States. Seattle Property Tax Ranking. Even before the virus hit the region, it was quite evident that if the inventory crunches further, affordability will become a bigger issue in the Seattle real estate market in 2020, especially with homes in the lower tier.. Seattle condo market: I want to dig deeper into how your property taxes are determined, especially in light of the recent news about the upcoming Local Improvement District (LID) tax that will be used to help fund the new waterfront revitalization in Seattle. The average American household spends $2,375 annually on real estate property taxes, and, according to the National Tax Lien Association, more than $14 billion in property taxes … Tax Rates for Seattle, WA . Property Tax Rate: $10.66 [The property tax rate shown here is the rate per $1,000 of home value. Contact us Property Tax Hotline: 206-263-2890 Foreclosure: 206-263-2649 Email: PropertyTax.CustomerService @kingcounty.gov 500 4th Avenue RM 600 Seattle, WA 98104 If you sell for more than that amount, you’ll be paying more–often much more. Taxes for the second half of the year can be paid in advance, but the first half can’t. 2014 Property tax statistics - all tables available October 2014 2013 Property tax statistics - published September 2013 2012 Property tax statistics - published July 2012 Washington State right now positions 29th for median property tax rates by state. Pay your property taxes First half of 2020 property taxes are due April 30th Sign up for TEXT or EMAIL Reminders. Sales Taxes: 8.90% [The total of all sales taxes for an area, including state, county and local taxes.Income Taxes: 0.00% [The total of all income taxes for an area, including state, county and local taxes.Federal income taxes are not included.] This begins to whittle away as you creep above $1.5 million and into the higher tax rate of 2.75% (3.25%). Our Washington Property Tax Calculator can estimate your property taxes based on similar properties, and show you how your property tax burden compares to the average property tax on similar properties in Washington and across the entire United States.. To use the calculator, just enter your property's current market value (such as a current appraisal, or a recent purchase price). King County collects, on average, 0.88% of a property's assessed fair market value as property tax. The average Seattle homeowner still ends up paying around $1,000 more in property taxes every year. The median property tax in King County, Washington is $3,572 per year for a home worth the median value of $407,700. Other tax considerations Seattle housing market continues to see low inventory and high competition making things hard for homebuyers. 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