![]() The remaining 45% of property taxes go toward a variety of services and are limited to a 1% annual increase, Konis says ![]() ![]() School funding accounts for about 55% of a property owner’s total tax bill. “Therefore, if your house goes up 10%, then that portion of your taxes goes up 10%,” he says. The probable increase in property taxes is driven largely by the overhauled education funding lawmakers approved in 2017, which uses a fixed rate that currently is $2.70 for every $1,000 of assessed property value, Konis says. The Spokane County Assessor’s Office began sending out the 2020 valuation notices to property owners in mid-August and is currently in the process of valuing new construction, a process that’s expected to be completed this month. Typical Spokane homeowners saw double-digit rates of rise in assessed property values this year, according to data released this month, which likely will result in hikes in next year’s property tax bills, says Spokane County Assessor Tom Konis.
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