Does more condos mean less property taxes?

Short Answer: NO!

I am always amused at how some folks claim more condo development will translate into less property taxes, because, in reality, it doesn't happen.

The municipal research service center makes property tax data for cities readily available (click here). We can look at the amount of 2008 property taxes collected per person from city to city.

In 2008, Edmonds collected $242.28 of property taxes per person.

Many folks point to condo rich Kirkland as being an example of what Edmonds should be. They collect $300.81 per person.

Folks love to point to all the new development in Mill Creek as an example of what we need for condos and heights. They collect $271.12 per person.

Now Bellevue has a lot of condos. However, they collect about the same property tax that we do: $242.48 per person.

Redmond collects $365.12 per person. Mega condo capital Seattle collects $551.39 per person!

Condos may look like they generate revenue on paper, but they also increase the demand for city services. As seen above, condos actually cause property taxes to go up, not down.


Now Lynnwood collects only $212.82 of property tax per person. How do they do it? They have a huge sales attraction called the Alderwood mall, which draws folks from outside of their city to spend money inside of their city.

Building tall condos will not solve our economic woes and lower our taxes. We must make better use of our historic and artistic treasures to draw in folks to spend money in our community.