November 12, 2013
Issaquah could hike property taxes for the first time in eight years.
The mayor’s proposed budget includes a 1 percent increase, the maximum allowed under state law. The increase would add just over 1 cent per thousand to the tax rate, which would mean an annual increase of $3.83 on a $440,000 home if passed. The city last pursued an increase in 2006.
“Inflation has been incurring year after year,” Finance Director Diane Marcotte said, giving a rate of 1.9 percent annually. “I think the mayor wanted to include the 1 percent property tax because it helps to offset the increase of inflation.”
It would add an estimated $70,000 in revenue to city coffers.