EVERETT — The city plans to increase property taxes 1 percent next year.
The rate itself is going down, but the price of the tax will go up for most people because home values are increasing.
The average homeowner could see their city portion of taxes go up about $13 next year.
The 1 percent increase would set Everett’s property tax rate to $2.20 per $1,000 in assessed property value when including the city’s 45 cent emergency medical services levy. People paid a rate of $2.30 per $1,000 in assessed property value this year.
The average home valuation will rise 5.5 percent next year, according to county forecasts. The average Everett house was worth roughly $380,000 this year, according to the Snohomish County assessor’s office.
From city figures, an owner of a $382,000 home paid 878.74 in city property taxes this year. Next year, that same house is calculated to be worth $404,688 and the owner would pay $891.86.
The City Council is scheduled to approve the increase after a public hearing Wednesday, Nov. 10.
To register to speak at the hearing, sign up at www.ev
erettwa.gov/speakerform or call the council office in
advance at 425-257-8703. The council meeting starts at 6:30 p.m. and will be online.
The city is allowed a maximum 1 percent increase each year because of Tim Eyman’s Initiative 747 voters approved many years back.
Property taxes represent about $39.6 million in revenue for the city, or about 25 percent of its budget.
City taxes represent about one-fifth of a person’s property tax bill. The state, county, Port of Everett and school district also levy property taxes.
