A 1% property tax increase was proposed. This would mean $25,620 added to the 2020 budget for things such as police and library funding. The idea of a property tax increase immediately scares many people on the surface. However, PowerPoint slides were presented that tell a different story. These slides will be available on the City’s website in the next few days.
Some highlights from these slides including the following:
- Home owner’s whose home value is $300,000 could actually see a decrease in taxes.
- Even if approved, Liberty Lake’s Levy rate would be
$1.544$1.51 per $1,000 of home value, less than all of the surrounding cities in the area (Cheney, Airway Heights, Spokane, Spokane Valley).
- The 1% increase would put the levy rate back to where it was in 2009. However, this equates to a sizable amount more for the city than in 2009 as the assessed value of homes is roughly 660 million dollars more than it was 11 years ago thanks to the continued development and growth.
Liberty Lake City Council – November 19, 2019 Meeting / Public Hearing