Spokane Valley City Council may still not raise property taxes for 2019

September 20, 2018

Spokane Valley is planning to opt out of raising property taxes in 2019, which will mark a decade without an increase for residents.

The Spokane Valley City Council moved forward with advancing a property tax ordinance at a council meeting Tuesday, which establishes the rate at $1.30 per $1,000 of assessed value – seven cents less than the property tax rate of $1.37 per $1,000 in 2018.

The minimum annual property tax increase allowed by state law without a public vote is 1 percent.

The city anticipates collecting close to $12 million in property taxes in 2019, which is based on a preliminary estimate of property values provided to the city by the Spokane County Assessor’s office as of July.

But, that estimate could change once the city receives updated values for new construction, which could mean the estimated levy rate might decrease, according to the city.

Spokane Valley’s maximum levy rate is $1.60 per $1,000 of assessed value. The difference between that amount and $1.30 per $1,000 will be banked for potential future use, collecting an estimated $616,000.

The city will vote on the property tax ordinance on Oct. 23.

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