Property Details
Mercer Island, King County median: $2,250,000
Mercer Island, King County average: 0.850%
Washington Property Tax Note
Washington has no state income tax, so local governments rely more heavily on property taxes for revenue. Rates vary significantly between counties and cities.
Your Property Tax Estimate
Annual Tax
$19,125
Monthly Tax
$1,594
Effective Rate
0.850%
Tax at Different Price Points in Mercer Island, King County
| Home Price | Annual Tax | Monthly Tax |
|---|---|---|
| $500,000 | $4,250 | $354 |
| $750,000 | $6,375 | $531 |
| $1,000,000 | $8,500 | $708 |
| $1,500,000 | $12,750 | $1,063 |
| $2,000,000 | $17,000 | $1,417 |
Based on 0.850% effective tax rate for Mercer Island, King County.
Impact on Monthly Mortgage Payment
Property taxes are part of your total PITI (Principal, Interest, Taxes, Insurance) payment. Lenders include $1,594/month in your qualifying debt-to-income ratio.
Monthly Tax Escrow
$1,594
Annual Tax Bill
$19,125
Calculations are estimates for educational purposes only. Actual property taxes depend on your county assessor's valuation, local bond measures, Mello-Roos districts, and homeowner exemptions. Contact Mo Abdel at (949) 822-9662 for a personalized mortgage analysis. NMLS #1426884 | Lumin Lending NMLS #2716106.
Frequently Asked Questions
What is the property tax rate in Mercer Island, Washington?
Mercer Island is in King County, which has an average effective property tax rate of 0.85% for 2026. On Mercer Island's median home value of $2,250,000, that equals approximately $19,125 per year or $1,594 per month.
How much are property taxes on a $2,250,000 home in Mercer Island?
At the current effective rate of 0.85%, a home valued at $2,250,000 in Mercer Island pays approximately $19,125 in annual property taxes. That breaks down to $1,594 per month added to your mortgage escrow payment.
Does Mercer Island have Mello-Roos or special assessments?
Mercer Island, King County does not have Mello-Roos (a California-specific program). However, Washington property taxes include special levies for schools, fire districts, library districts, and other local services that vary by location within the county.
How do Mercer Island property taxes affect mortgage qualification?
Lenders include property taxes in your total PITI payment when calculating debt-to-income ratios. In Mercer Island, the estimated $1,594/month tax escrow on a median-priced home directly reduces the loan amount you qualify for. Mo Abdel can help you factor in property taxes when comparing loan programs.
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