I do flips so I am always looking at the taxes on properties. Here in Seattle, you almost never see less than a $6K tax bill, and 5 figures is average.
“Here in Seattle, you almost never see less than a $6K tax bill, and 5 figures is average.”
Thanks to California’s Proposition 13, we are able to stay in the home we built 35 years ago. Even though it’s been re-assessed every year, those re-assessments have only been 2% But it does create some serious differences in taxes paid on homes of equal value, because valuation steps up to price paid when properties are sold. We keep a weather eye on Sacramento, because the RATs are busy trying to figure out how to break Prop 13’s constraints, with the first likely foray being taking business property’s Prop 13 benefits away. So for that reason, we sold a commercial property here we had owned for 18 years, and reinvested the proceeds in properties in Arizona and Nevada using a 1031 Tax-free exchange.