Whatcom property taxes are higher this year. Don’t blame the assessed value of your home
The total taxable assessed value of Whatcom County properties went up by almost 22% last year but that doesn’t mean property owners will see a 22% increase in their property taxes bills now arriving in the mail.
Property taxes to be collected this year by all taxing districts in Whatcom County will show an overall 9.2% increase over last year, totaling $441,957,023 in 2023.
The total taxable assessed value in Whatcom County increased from $43.16 billion for 2022 taxes to $52.49 billion for 2023 taxes.
Half the tax is due by April 30 and the second half is due Oct. 31.
The assessed value is used in part to determine the amount of taxes property owners owe in 2023. But other factors also contribute.
“You can think of assessed value versus property tax like cake. The width of the cake is the assessed value, and the height of the cake is property tax,” Whatcom County Assessor Rebecca Xczar said in a statement to The Bellingham Herald.
“The height of the cake is made up of several layers, each representing a taxing district (County, City, Fire District, school district, etc.). If the cake gets wider due to all assessed values increasing, your piece of the cake (percentage) is relatively unchanged. If some of the layers on your cake get taller, you will pay more tax, regardless of how wide the cake is. If none of the assessed values changed, property tax for 2023 would still have increased due to the layers on the cake getting taller,” Xczar said.
In the November election, Whatcom County voters approved two county-wide property taxes — the Children’s Initiative and the EMS levy.
These measures add up to about 41% of the overall increase in property taxes being collected this year, about $15.5 million.
Prop. 5, the Children’s Initiative, will charge property owners 19 cents for every $1,000 of assessed property value. So the owner of a $500,000 home would pay $95 a year for the 10-year life of the levy.
The EMS levy reauthorized a levy rate of $0.29 per $1,000 of assessed property value. So renewal of this levy rate will cost the owner of a $500,000 home in Whatcom County about $145 in 2023.
The 9.2% increase in property taxes is a median for property owners throughout the county. Some people will pay a bit less or more depending on their property’s assessed value and their district’s specific levies.
Property owners in Ferndale will see an increase from the approved Ferndale School District operations replacement levy.
Property owners in Bellingham will see an increase from the approved Bellingham School District school bond.
The County Treasurer’s Office is expected to start mailing tax statements by the end of February. Property tax payment information for 2023 is also available online at the Treasurer’s office website.
Property tax relief is available for senior citizens and people with disabilities who meet exemption program requirements. The disposable household income qualifying threshold for Whatcom County residents is $42,043. Participants must live in the home as their primary residence, including the year prior to the first tax year the reduction is applied for.
