Reader question: What will Shoreline Prop 1 cost me?

Thursday, November 17, 2016

A reader had a question about Shoreline's Prop 1, which is passing with a 67% Yes vote as of 11-17-2016.

So on a 400,000 house ... which is almost the average cost of a home, it would cost the taxpayer $556 more each year in property tax??? and people wonder why rents are high! Is my Math correct???

Sara Lane, Administrative Services Director for the City of Shoreline, responded.

Thank you for your question. Your math is not exactly correct. The additional amount that a homeowner of a $400,000 home will pay in 2017 as a result of Proposition 1 is $64. 
With the passage of the levy lid lift renewal the total amount that a homeowner would pay to the City of Shoreline on a home valued at $400,000 in 2017 would be $556. 
Proposition 1 restored the property tax rate to $1.39 in 2017 and allows the City’s Levy to grow by CPI (i.e. “inflation”) for the next 5 years. 
Had Proposition 1 not passed, the amount paid to the City of Shoreline on a $400,000 home would be an estimated $492 in 2017 – as I noted, a difference of $64 per year. 
Property tax is the largest operating revenue source for the City, supporting critical services like public safety, parks and recreation, and community services. Without the passage of Proposition 1, the City would have been forced to reduce non-mandatory services in order to balance its annual operating budget. 
Thank you to the Shoreline voters for supporting Proposition 1 and allowing the City to maintain our current levels of service to the community!

 

2 comments:

Kenrick November 18, 2016 at 4:00 PM  

I have an additional question.
Over the last 4 years, property taxes went up by about 25% (in my case from $3600 to over $4500) because of property value increase. This is the result of a high demand for housing in King county that pull the home prices up.

Shouldn't the additional income raised through higher property taxes enough?

In 2012, 12% of my $3600 in property taxes went to the city of Shoreline: $432
In 2016, 12% of my $4500 in property taxes went to the city of Shoreline: $540
So in 4 years, the city of Shoreline got a lot more than they used to and on top of that is asking for an additional $64.
Not that $64 is a huge number, but Shoreline already has some of the highest property taxes in King county. It is a bit hard to swallow.

DKH November 26, 2016 at 7:17 PM  

The answer to your question was published here:http://www.shorelineareanews.com/2016/11/second-readers-question-about.html

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