At some point, I need to post about property taxes. It is the most wicked of all taxes.
When you have a property tax, you don’t own your property. You are renting it from the government (just see what happens if you don’t pay it).
And if you are on a fixed income, the property taxes could increase to the point where you cannot afford to keep your home.
The Latah County Assessor’s Office said in a news release that because of the rising real estate market in the county, residential property owners may see an increase between 4 percent to 36 percent in the value of their homes for 2019.
The assessments will be mailed to property owners in early June.
Rural properties will see increases of about 11 percent on average, while duplexes and multi-family dwellings in Moscow may increase as much as 36 percent. Single family residences in Moscow will see increases between 6 percent to 18 percent.Genesee residences will see increases between 5-25 percent, and Troy and Potlatch will see between 5-14 percent.
Property assessments are used to determine an individual owner’s share of annual taxes levied in their area, according to the release. Assessments, which are completed Jan. 1 of each year, are based on verified sales and appraisal data from the previous year.