Monday August 13, 2012

6:00pm - 8:30pm

King County Assessor Lloyd Hara

**2 PHP Details for Local Regulations**

Wondering where your property tax dollars go? Seeking answers on your property valuations? King County Assessor Lloyd Hara will address the property assessments process, valuations, senior exemptions, online services and the appeal process at the next REAPS meeting scheduled for August 13^th, 2012 at 6:00 p.m. at the Spaghetti House in Lynnwood. For more information, visit the King County Department of
Assessments website at www.kingcounty.gov/assessor.

Discussion Topics:

· General Overview of King County Department of Assessment.

· What are the functions of the Assessor and the Department of Assessments? What is the Assessor’s Office doing to adapt to the changing real estate market?

· Market trends for commercial and residential properties across King County? What does it mean for property owners and public services?

· Online Services from the Department of Assessment.

· Tax Relief Programs (Senior and Disability Exemptions, Limited Income
Deferrals, and Tax Assistance Services).

As real estate values have dropped, there is a natural expectation that your property taxes should drop as well. However, this may not be the case. Depending upon where you live, the specific taxes levied in your area, and local real estate values, it's possible that while the appraised value of your home has decreased, your taxes have increased. That's because about half of your property tax is determined by the levies that you and your neighbors have approved for such services as schools, parks, water districts, EMS and fire/rescue, among others. If these levies stay the same or increase from the year before, your property taxes may increase. Similarly, if other valuations decrease more than yours, your taxes may also increase. Only 18 cents of every property tax dollar supports the King County General Fund. The other 82 cents are divided between the State, cities and other local jurisdictions. There are 163 local taxing districts in King County, and break downs among levies are
included in your specific tax bill.

Lloyd Hara has a distinguished public service career of more than40 year. Lloyd is an advocate for taxpayers and champion of open, transparent, and accountable government. In business, he and his wife own print broker business and does independent consulting. Lloyd is engaged with numerous Boards and community based organizations. He is a graduate of the University of Washington with a BA in economics and a Master’s degree in Public Administration.