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leio

Thought you guys might be interested.

http://www.walkscore.com/

Rachel

let's see percentage not dollar amount. Spokane housing is a lot more affordable that King County. if they dropped 10% in value it would be a lot more than Spokane dropping 10%. I think on the average we are looking at the same percentage as the rest of the country.

METROSPOKANE

What's to consider is how a scenario like this can impact property tax revenues/tax base with such a drop.

sustainable

Metro - this shouldn't affect our property tax revenues. Spokane County's property tax system is budget based. They tax enough to raise the amount in the budget, if property values go down you will simply pay a higher percentage of your assessed value in taxes, if property values go up you will generally pay a smaller percentage of your assessed value in taxes. Ralph Baker explains it better: http://www.spokanecounty.org/assessor/default.asp

METROSPOKANE

Good clarification sustainable. On the revenue side the pain won't be felt, but for the private property owner it might be noticed. Especially in areas with higher levels of default.

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