As of April 1, Washington state’s annual property tax hike will be a whopping $2,600 per person.
The increase will take effect on April 1st and will increase the annual property taxes in each of the state states.
According to the Washington State Taxpayer Advocate, property taxes will increase by $8,000 per person for a single person in Washington.
For families of three or more, the increase will be $13,500.
In addition to the $2.6 billion increase, the state will also increase the state income tax rate to 6.25 percent.
As with all state income taxes, the higher the rate, the more revenue the state gets from the federal government.
The highest state income rate will go up from 4.95 percent to 5.5 percent.
This increase will also take effect after the state has collected the money from the tax increases, which means that the next tax year will be even more expensive for those struggling to pay their bills.
Property taxes will also rise in the counties surrounding the state.
In the Seattle-Tacoma-Bellevue metropolitan area, the property tax increase will add an additional $1.2 billion to the overall tax bill, according to the state legislature.
The largest counties to pay a property tax will be the Yakima, Kitsap and Pierce counties.
The new property tax increases will be phased in over three years and will start in 2017.
In addition to property taxes, some counties will also have an increase in their unemployment rate.
The unemployment rate in the Seattle metro area is now 4.9 percent, according a report from the Washington Department of Labor.
It’s expected that this will be more of a trend in the coming years.
If you’re looking for ways to reduce your property tax bills, the Washington Property Taxpayers Association offers a free, one-on-one consultation.