King County Cuts Tax Rate
Commissioners reduce the county tax levy by two mills as property valuations drop across the region.
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King County commissioners have officially set the tax levy for the coming year, resulting in a reduction of two mills. The rate for property outside city limits is set at 11 mills, down from 13 the previous year, while the rate within Seattle is now 12.25 mills. Alongside the lower levy, property valuations have seen a 10 percent reduction, with the total assessed value of the county now standing at $55,733,892. The budget is intended to cover county expenses, school districts, and state taxes.
“The reduction of taxation is even greater than appears from the reduction in the levy for the reason that there is a 10 per cent reduction in valuations.”
Tax levies and property assessments remain the central tension of King County governance. A reduction in rates paired with a drop in valuation is a historical snapshot of the cyclical nature of municipal finance in Seattle.
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