The city of Seattle, Washington presents financial challenges for those interested in buying a home in the city, and it seems like that trend may be heading in the wrong direction, according to the Seattle Times.
Among the 50 largest cities in the United States, Seattle had the fifth-highest median property tax in 2022, and saw an 89% increase in the median tax from 2010-2022, per the report.
To illustrate further, there were 14 large cities where the typical property tax bill was less than a third of what it is in Seattle, and Seattle was joined atop the list by San Francisco (California), San Jose (California), Oakland (California), and Austin, Texas.
Seattle ranked seventh for the increase in property taxes behind six cities in the State of California, but that is little reason to celebrate.
“It’s not surprising the top six are all in California,” John Wilson, King County assessor said, per the Seattle Times. “They’ve had both a superheated real estate market plus a scarcity of housing supply which also tends to drive up home values.”