The Seattle city council voted Tuesday to increase its property tax bills, which already average $1.5 million.
The measure will add an additional $500 per year to the amount that the city collects in property taxes, which would bring the total bill to $1 million.
Sitting on top of that is the $500 property tax hike, which has already resulted in more than 3,000 properties in the city being assessed at higher rates.
The new tax hike will bring the average property tax increase in Seattle to $2,500 per home.
In addition, Seattle’s rate for property taxes is now up to $6,000.
If you live in the Seattle metropolitan area, the tax increase is $1,500 a year.
Seattle Mayor Ed Murray has said that the new tax increase will bring in $50 million over the next decade, which is more than the city has ever collected.
The council voted on the increase after considering several different scenarios that included a $1 billion capital plan and a $200 million budget surplus.
The proposal was put forward after a group of lawmakers including Mayor Murray and members of the council’s Taxing Council held a special session to discuss the tax hikes.