Higher property values (overall) doesn't necessarily mean more property taxes go into the coffer. Higher specific property values (relative to your neighbors) m

Higher property values (overall) doesn't necessarily mean more property taxes go into the coffer. Higher specific property values (relative to your neighbors) means you pay a larger slice of the pie. Though Seattle going up even faster than the rest of the market certainly helps conflate the two, the total tax burden is somewhat fixed in dollar amount (at the state or county level, I don't remember which), so if everybody's property values go up uniformly 10% each, everybody's taxes only go up by the actual tax revenue increase for that year (typically much lower than 10%). What really gets you is if your property value goes up faster than the average at the county/state level.