Did you know why Anacortes property taxes have dramatically increased over the last few years? There are two main reasons for the increase:
- Assessed Value Increase: Market value of Anacortes real estate and consequently assessed value of Anacortes real estate increased dramatically in 2023. These increases resulted in an overall Anacortes property valuation increase of 17% in 2023 for the 2024 tax year.
- Levy Increase: Voters passes a significant Anacortes city levy in 2023 resulting in a levy increase from 0.98 for 2023 to 1.34 for 2024. This levy increase was for the purpose of adding 5 police officers and 8 firefighters to improve the safety and security of our Anacortes Community.
The combined impact of the above actions resulted in an increase of property tax revenue for the City of Anacortes from $5,684,034 in 2023 to $8,405,509 or a 49% increase.
Below is a table showing the year over year Anacortes assessed property values and the actual total yearly Anacortes City tax revenue generated. Note the result for 2024 showing the 49% increase as compared to 2023.
The above table shows that due to compounding the overall assessed value of Anacortes property increased 148% from 2015 to 2025. This is an average of 15% increase per ear over the 10 year period.
In 2024 the increases in market and assessed values slowed dramatically, due to higher interest rates and lower demand. Additionally other revenue sources for the City of Anacortes such as new construction fees and excise tax from sold properties showed declining trends.
Despite the county increasing the assessed property value and average of 15% per year, the Anacortes City Council continues to increase the tax levy an additional 1% per year, which is the maximum allowed without voter approval.
This situation signifies a need for a “Call to Action” for Anacortes property owners. Pay close attention to City Council member decisions on spending and planning for the next 2026 budget cycle. You can do this by:
- Writing to the City Council (citycouncil@cityofanacortes.org);
- Attending every Monday (first four weeks each month) City Council meeting at 6PM at City Hall;
- Voting for City Council candidates who represent your interests.
Anthony Lee
Anacortes, WA