Medical Lake to hold line on property taxes
Last updated 10/21/2021 at 1:25pm
MEDICAL LAKE – City Administrator Doug Ross recommended holding the line on ad valorem property taxes during a City Council meeting Tuesday night, Oct. 19.
According to Ross, the city’s overall valuation has increased since last year, negating any need to raise taxes.
The overall assessed city valuation of $360,840,197 in 2020 meant the city collected $580,123.34 in taxes for 2021, based on a tax rate of $1.6088 per $1,000 of assessed value, he said.
The assessed value in 2021 went up to $387,652,916, so the expected revenue in 2022 is $623,656 which is an increase of $43,533 – mor...