Washington County Assessor unveils property tax estimator to aid new homebuyers

In a recent meeting held at the Washington County courthouse, Assessor Russell Hill presented a striking overview of the county's real estate market, revealing unprecedented growth that has left many residents grappling with rising property taxes. Hill's report highlighted a staggering increase in market values, with real estate prices soaring by over 120% in the past seven to eight years.

As Hill laid out the data, he emphasized the implications of Amendment 79, a constitutional provision designed to protect current homeowners from steep tax increases. While this amendment offers a safety net for existing property owners, it poses significant challenges for new buyers. When a property changes hands, the tax cap is lifted, often resulting in shocking increases for unsuspecting newcomers. Hill shared a poignant example from a recent inquiry, where a homeowner faced a $900 monthly increase in their mortgage payment due to a sudden jump in assessed value—an increase that left them bewildered and financially strained.

The Assessor's office has seen a surge in inquiries, with many new homeowners seeking clarity on their tax bills, which can double or even triple after a property sale. Hill noted that while the office's assessments are often lower than the purchase price, the abrupt tax hikes are a common source of distress.

In response to these challenges, Hill announced the launch of a new property tax estimator tool, designed to help potential buyers better understand their future tax obligations. This user-friendly tool, accessible via a QR code, allows users to input their expected home price and receive an estimate of their property taxes based on current market data. Hill expressed hope that this initiative would empower homebuyers with the information they need to navigate the complex landscape of property taxes in Washington County.

The meeting underscored the pressing issue of affordable housing in the area, as rising property values and taxes contribute to a growing crisis. With the average home price now hovering around $300,000, many residents are left wondering how they can secure a stable living situation without facing financial ruin. As Washington County continues to evolve, the discussions surrounding property taxes and housing affordability remain critical to the community's future.