KC Assessor releases Tax Transparency Tool – informing LFP residents of the implications of Prop. 1

The King County Assessor’s office has released its Tax Transparency Tool.

The Assessor’s Office states: “What it does is calculate the estimated cost of property tax measures for each piece of property within the taxing district proposing the tax measure. 

What we do is take our assessed property values and then calculate the cost for the measure next year based on rate information provided in the ballot language. 

If it is a new measure, we simply show the cost. If it is a replacement measure, we show the difference between the current levy, and the proposed one.”

This tool can be used by residents of Lake Forest Park to understand the financial implications for each property should Proposition 1 pass. 

The example below shows the total tax paid to the City based on the current tax rate, the total tax paid to the City should Proposition 1 pass, and the difference between the two. 

The Assessor’s website will also show the user the total tax bill and how it is distributed to each of the taxing entities:

Assessor’s Office website :https://localscape.spatialest.com/#kingcountyassessor/Tax