King County Property Tax Rates
The King County Property Tax rates are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Regular Property Tax | $1.15 |
| Emergency Medical Services Levy | $0.265 |
| Veterans and Human Services Levy | $0.100 |
| Best Starts for Kids Levy | $0.143 |
Note that these rates are subject to change and may vary based on specific property classifications. It is recommended to consult with a tax professional for further information and guidance.
Example of King County Property Tax Calculation
King County Property Tax is calculated based on the assessed value of the property owned by the taxpayer. The assessed value is determined by the King County Assessor's Office, which uses a formula to determine the value of the property based on factors such as location, size, and condition.
Once the assessed value is determined, the King County Treasurer's Office applies the tax rate to calculate the property tax amount due. The tax rate is determined by dividing the total amount of revenue needed by the county by the total assessed value of all properties within the county.
For example, if the assessed value of a property in King County is $300,000 and the tax rate is 1%, the property owner would owe $3,000 in property tax ($300,000 x 0.01 = $3,000).
It's important to note that property taxes can vary depending on the location of the property, as well as any special levies or assessments that may apply. Property owners can contact the King County Assessor's Office or Treasurer's Office for more information on their specific property tax obligations.
If you want appeal your property tax assessment - contact your local tax assessor.
Who sets property tax rates in King County ?
Who sets property tax rates in King County?
Property tax rates in King County, located in the state of Washington, are set by different entities based on the location of the property. The following table summarizes who sets the property tax rates in the different areas of King County:
| Location | Entity Setting Property Tax Rates |
|---|---|
| Unincorporated areas | King County Council |
| Cities and towns | City or town council |
| School Districts | State legislature or local school boards |
| Port Districts | Local voters or the Port Commission |
When are property tax rates set in King County?
The property tax rates in King County are set annually by the respective entity responsible for setting them. These property tax rates are then applied to the assessed value of the property to determine the amount of taxes owed. The deadline to set rates for taxing districts is November 30th of each year.
It is important to note that the assessed value of a property may change each year based on changes in the real estate market, improvements made to the property, and other factors. This can result in changes to the amount of property tax owed, even if the property tax rate remains the same.
When is King County Property Tax due ?
King County Property Tax is typically due on April 30th of each year. Property owners in King County have several payment methods available to them, including:
| Payment Method | Description |
|---|---|
| Online Payment | Property owners can pay their property tax online using a debit or credit card. A convenience fee may apply. |
| Mail-In Payment | Property owners can mail in their payment along with the payment stub from their tax statement. |
| In-Person Payment | Property owners can make their payment in person at one of the King County Treasury offices. A cashier's check or money order is required for payments over $10,000. |
It is important to note that if the due date falls on a weekend or holiday, the deadline is extended to the next business day. Property owners who fail to pay their property tax by the due date may incur late fees and interest charges. Therefore, it is highly recommended that property owners make their payment on time to avoid any additional charges.
If you have more questions - contact your local tax collector.
Homestead exemptions in King County ?
Homestead Exemptions and Deductions in King County, Texas
Below are the county-specific Homestead exemptions and deductions available in King County, Texas.
Exemptions
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Residence Homestead Exemption | All homeowners | 20% of home's value | Up to $25,000 in value |
| Over 65 or Disabled Person Homestead Exemption | Homeowners over 65 or with a disability | Additional $10,000 | Must apply and provide proof of age or disability |
| Disabled Veteran Homestead Exemption | Disabled veterans or surviving spouse | 100% of home's value | Must have a service-connected disability rating of at least 10% |
| Surviving Spouse of a First Responder Homestead Exemption | Surviving spouse of first responder killed in the line of duty | 100% of home's value | Must apply and provide proof of eligibility |
Deductions
| Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| School District Taxes Homestead Deduction | All homeowners | $25,000 | Applies to school district property taxes only |
| County Taxes Homestead Deduction | All homeowners | 20% of home's value | Up to $10,000 in value |
| Disabled Veteran County Taxes Homestead Deduction | Disabled veterans or surviving spouse | Additional 10% of home's value | Must have a service-connected disability rating of at least 10% |
| Optional Percentage Homestead Exemption | All homeowners | Up to 20% of assessed value | Must apply and choose between this exemption or the School District Taxes Homestead Deduction |
It is important to note that homeowners can only claim one exemption on their property. They may, however, claim multiple deductions if they are eligible for each. Homeowners should consult with their local county appraisal district for more information on how to apply for these exemptions and deductions.
How is King County Property Tax penalty calculated ?
King County Property Tax Penalty Calculation
King County property taxes are due on April 30th of each year. If the property owner misses this deadline, penalties and interest will be added to the amount owed. The penalty is calculated as a percentage of the total amount of tax owed and can vary depending on how late the payment is made.
The penalty is calculated as follows:
| Time of Payment | Penalty |
|---|---|
| May 1 - May 31 | 1% |
| June 1 - June 30 | 2% |
| July 1 and later | 3% |
For example, if a property owner owes $5,000 in property tax and misses the April 30th deadline, the penalty will be calculated as follows:
- If payment is made between May 1st and May 31st: $5,000 x 1% = $50 penalty
- If payment is made between June 1st and June 30th: $5,000 x 2% = $100 penalty
- If payment is made on or after July 1st: $5,000 x 3% = $150 penalty
It is important to note that interest is also charged on the unpaid tax balance at a rate of 1% per month until the tax is paid in full. Therefore, it is recommended to pay property taxes on time to avoid accruing penalties and interest charges.
In summary, the King County Property Tax penalty is calculated as a percentage of the total amount of tax owed and varies depending on how late the payment is made. It is important for property owners to pay their taxes on time to avoid additional charges.
We recommend contacting the King County Tax Office or a local tax professional for the most up-to-date and accurate information.