I always wonder about situations like this.
Headlines in King County, Washington, are announcing the biggest property tax increase in that state’s history.
A $200 million increase, to be roughly exact.
Is it really necessary?
Even if you think yes, consider this. There’s a special provision for property owners to contest assessments. And we all know how difficult that can be under normal circumstances.
Is that really a good thing?
Have people been fooled?
Estimates are that 40 percent of King’s County property taxes are paid by commercial properties. That means those businesses have more money and clout to fight assessments and will probably win, thanks to the loophole provided by the law.
Okay, that lets them off the hook.
But will the burden be shifted to homeowners, small real estate investors and landlords?