OLYMPIA, August 18, 2011 -- Property tax revenue increased 4 percent to $9.2 billion in 2011, with some of the increase stemming from new construction and higher voter-approved levies, the Washington State Department of Revenue reported today.
Voters approved 39.7 percent of property taxes through school levies and bonds, levy lid lifts for fire districts and other junior taxing districts, and funding for emergency medical services. This was up 1.1 percent from 38.6 percent of property taxes due in 2010.
The compilation of property tax information is available in Property Tax Statistics 2011, an annual report.
Other findings of the report:
- K-12 schools receive 54.9 percent of property taxes – $5.0 billion – through the state school levy and voter-approved local levies and bonds.
- Counties receive 16.2 percent or $1.5 billion of the total.
- Cities get 13.2 percent or $1.2 billion.
- Junior taxing districts such as hospitals, fire districts, ports and libraries share 15.7 percent or $1.4 billion.
- Single family residences comprised 69.4 percent of a total $780.1 billion in assessed valuation in 2010.
- The average single family residence was valued at $243,998 in 2010 for taxes due in 2011. The average tax statewide was $2,718, up $101 from 2010.
- Property tax revenue increased by the highest percentage in Columbia County at 24 percent and decreased the most in Island County with a 2.7 percent decline.
- Klickitat County was the only county to assess both real and personal property at 100 percent of market value, while Asotin County lagged the most at 82.9 percent. The statewide average was 91.3 percent.
- Levy rates rose to a statewide average of $11.14 per $1,000 assessed value due in part to a 4.2 percent drop in the assessed values of existing properties. The statewide average was $10.28 for taxes due in 2010.
- A total of 114,800 senior citizen households on limited incomes saved $216 million in property taxes through relief programs, or an average of $1,881 per parcel.
- The taxable value of nearly 11.5 million acres of agricultural, timber and open space lands was reduced nearly 73.75 percent to $4.8 billion through the current use assessment program.
- Nearly 6.3 million acres of privately owned designated forest land had a taxable value of $804 million, or a taxable value of $127.6 per acre.
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