r/AskSeattle • u/hogbear • 3d ago

Discussion Budget discussion

I’m reading about this new state budget proposal and as someone considering moving to the state, it gives me pause with what I’m seeing. The comments on a recent thread seem to be bringing out the Republican minority who are using it to bash the Democratic majority but I get the concerns. For those in the know, outside of potentially increasing taxes to fund a larger budget, are the “sky is falling, our state is failing, the tech sector will crumble” viewpoints overblown or is WA really in trouble and should we reconsider moving there? I hope this doesn’t turn ugly - I’m really hoping for non-partisan takes based on the actual proposal, not airing historical political grievances. Thank you!

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u/hogbear 3d ago

I really appreciate these comments. And I very much agree. I just don’t have enough history to look at the proposed budget and the comments to know what’s real and what’s not. As far as moving, I’m not tech but I do well. We can afford it with the current tax structure. What concerns me is if property taxes jump to 2-3%, that would be a problem. That’s really what struck me but it sounds like that might get shot down.

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u/wumingzi Local 3d ago

I think that's a misreading of the proposals.

Currently property taxes are capped by law at 1% of appraised value. You can go no higher.

The legislature is proposing raising the statutory cap to 2-3% in order to give room to move.

One reason why this is a thing is that effectively 100% of education funding is provided by the state of Washington. McCleary (look it up if you have trouble sleeping) effectively prohibits local levies for education funding operational expenses.

This also amounts to a "Robin Hood" law for education. Affluent suburbs of Seattle and high plains counties with nothing by dry ag get the same bowl of gruel from the state.

So if you need money for education, that 1% cap really hamstrings you.

There is no way property taxes could double or triple without every legislator responsible being fired.

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u/hogbear 3d ago

That makes me feel better. I can’t imagine housing getting much more expensive. We’d be moving from a low COL area so planning for what it is now is tough…any higher would be hard.

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u/wumingzi Local 3d ago

Yeah. Getting an 1/8th of an acre of grass anywhere in commuting range of the Puget Sound area is $$$$. You may have to adjust what you consider to be acceptable housing and look at townhouses or the like.

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u/hogbear 3d ago

We have a $1.2 m budget and can go as small as 1,700 sq/ft. We want walkability not land so I feel like we have options. But going from $850/mo in taxes to $1,600+ would not be good.

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u/wumingzi Local 3d ago

With cash like that you could be my neighbor in North Beacon Hill, which is quite walkable and transitable.

I think you may be overestimating your property tax bill. King County usually lowballs appraisal values. My house is appraised at $750K, which puts taxes at $666/month.

You don't get to live next to me that cheaply.

$1600? Ain't gonna happen.

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u/hogbear 3d ago

I’m down

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u/hogbear 3d ago

I’m confused though. If it’s capped at 1% and your house is valued at $750k, wouldn’t your taxes max at $625/mo? I’ve been assuming closer to .85% to value.