Here go your property taxes again.
Property taxes are the most evil, incurious of all taxes. Your income hasn’t changed, but your property appreciates; so you owe more in taxes even though you don’t have the income to pay (unless you sell your property).
Via the Daily News:
Many Moscow property owners should expect across-the-board increases in the assessed value of their homes for the second consecutive year, according to a Latah County news release.
Residential property assessments in Troy, Potlatch and Genesee are also indexed upward reflecting the active Palouse real estate market.
Property assessments reflect the value of each parcel of property in the county and are used to determine each property owner’s share of the annual property taxes levied for services in their tax code area.
The county assessor’s office received reports of 393 home sales, not including manufactured homes, in 2016, with an average sale price of $231,527.
Moscow reported 248 sales in 2016 with an average price of $235,789 and a 2017 assessment increase of 10 percent. Genesee reported 13 sales in 2016 with an average price of $192,308 and a 2017 assessment increase of 15 percent. Troy reported 12 sales in 2016 with an average price of $166,048 and a 2017 assessment increase of 12 percent. Potlatch reported 20 sales in 2016 with an average sales price of $132,298 and a 2017 assessment increase of 15 percent.