November 30, 1998
WOODINVILLE--While Woodinville's property tax rate will remain the same in 1999, residents' and business owners' bills will be higher due to increased property values.
Early last week, the City Council set property taxes at $1.60 per $1,000 of assessed value, the same rate as this year, last year, the year before that, and the year before that, and ... well, you get the idea.
It means that the owner of a $200,000 home will pay $320 in property taxes to the city. But with assessed values rising 8.4 percent above last year, the tax bill will actually increase.
According to Jim Katica, Woodinville's finance director, the city has an assessed value of $1.146 billion, and will collect $1.83 million in property taxes for 1999.
The city's portion of the total property tax bill in 1998 was just over 10 percent. Overall, $15.38 per $1,000 is collected from property owners for the state, county, port, fire, school, hospital, library, and parks and recreation districts. The Northshore School District collected the largest amount, $5.86 per $1,000.
The council also moved to protect its capability to raise taxes by the 106 percent a year it could. The city could raise property taxes to collect $2.08 per $1,000 of assessed value, but has historically held off on that.
Because the city now has more than 10,000 residents, it must pass a resolution yearly reserving its taxing capability. The move preserves about $110,000 in taxing authority.