At their October meeting, the Bellevue City Council approved the property tax rate of .364 per $100 of assessed valuation of real property (real estate).
This rate represents the compensating rate plus a 4% increase, which is the maximum allowed by the state to help cover inflationary costs. The rate for personal property has been set at .860 per $100 of valuation.
Property taxes are broken down into several categories. The first and usually largest chunk of your tax bill is real property tax, sometimes referred to as real estate property tax. This is essentially a tax on everything you own that’s nailed down. For residents, this means houses and other real estate property. For businesses, this means office buildings and other buildings and facilities used to conduct business.
Tangible personal property, on the other hand, is another form of property that isn’t real estate. Depending on where you live, residents may not be taxed on personal property at all–this will vary by jurisdiction.
Depending on where you live, other tax-adjacent fees may apply.
How do property taxes work?
Property owners should watch for their tax bill to come on bright yellow cards this year. The cards also include a QR code to pay the tax bill online.