(The Center Square) – Seattle voters have passed the largest tax proposal in city history, and homeowners will end up paying an average of more than $2,300 toward city services.
Proposition 1 was approved by over 65% of tallied voter in the general election.
The eight-year levy package totals $1.55 billion. The new levy is expected to cost a median homeowner in Seattle an additional $530 a year.
The levy authorizes an eight-year tax increase for collection beginning in 2025 of approximately 65 cents per $1,000 in assessed value. However, the ballot measure notes that it can go up to a maximum of $2.71 per $1,000. This confuses some readers.
The Center Square reached out to the city to understand this explanation on the ballot measure.
Mariam Ali, press secretary for the Seattle Department of Transportation, explained that the 65-cent levy rate is called the “mill rate.” The mill rate on a given year will increase or decrease based on the total assessed value of all property in the city including residential, commercial, and industrial.