February 20, 2012
NEW —9 a.m. Feb. 20, 2012
King County residents started to receive property tax bills in recent days and, although property tax collection in the county up 1.71 percent from last year, property owners should see a drop in bills and a decline in property valuation.
The total value of property in the county continued to decline for the 2012 tax roll, but the drop is slightly less than 2011. Officials said property values declined in almost every area in King County last year.
The median assessed value in rural Southeast King County, for instance, declined from $304,000 for the 2011 tax roll to $259,000 for 2012 — or a decrease in the tax bill of $470.