Cohen Interviewed on KUOW NPR on Seattle’s Property Tax Levy
Posted: 8/22/2024 (CSDE Research)
With the upcoming general election approaching, KUOW, Seattle’s NPR Station, sat down and talked with professionals to talk about the fact that, “Seattle voters will decide on the biggest property tax measure in the city’s history, the $1.5 billion transportation levy.” In the article, “When it comes to Seattle’s property tax levy, renters are not immune,” it is discussed that the levy would fund things like bridge repairs and bus lanes, and the fate of this may hinge on the city’s makeup of homeowners and renters. Within Seattle, the population is made up of 55% renters and 45% homeowners, which is relevant to this discussion because renters and homeowners tend to vote differently when it comes to property tax increases. Renters are more likely to approve of a property tax increase while homeowners are more likely to disapprove of the levy. What is the reasoning behind this? One answer is salience. CSDE Affiliate Isabelle Cohen, an economist who studies taxes, states that, “salience is the idea [that] you’re more aware of some taxes than others. If you’re a homeowner, you’re getting that bill from the county and you’re sort of saying, ‘Wow, this is what I’m paying.” Those who have paid off their mortgages are more aware of property taxes and renters are generally less aware of how property taxes are impacting their monthly rent. Dr. Cohen discusses the individual impacts on renters and homeowners, explains salience, and more. Read the rest of the article to learn more about the upcoming property tax vote.