A look at how inflation affects property is offered
September 22, 2022
To The Eagle:
It seems there is a lot of conversation about inflation lately.
Maybe we can illustrate what it means locally by using the assessor’s figures for property taxes applied to 100 foot waterfront lots. We will begin with a 100 foot lot from 1969 being valued at $250. I myself have a 100 foot waterfront lot assessed just a few days ago at $211,000 rounded off for easy arithmetic (my kind of arithmetic). If someone in 1969 had $211,000 to buy 100 foot waterfront lots he would have 844 of these lots which would amount to 15.98 miles of Puget Island waterfront.