![]() This home - presumably Gates "Xanadu 2.0," which has 24 bathrooms and a trampoline room - has a $1,040,627 total property tax in 2019. ![]() The most expensive home in Medina is assessed by the King County Assessors office as being worth $131,239,000, Ketter tells CNBC Make It. TWEET: Need more proof that Washington's tax system is as messed up as it gets? (Another $2.42782 goes to local schools, $0.12266 goes to the port, $1.21906 goes to the county, $0.37441 goes to the library, $0.21762 goes to emergency medical services, $0.09660 goes to a flood fund, $0.20700 goes to regional transit and $2.62992 goes to the state school fund.) Of that, only $0.63486 goes to the city of Medina, Ketter says. For Medina, the property tax rate is $7.92925 per $1,000 of assessed value. The property tax rate in Washington state is set as a rate, not a percentage, Medina's director of finance Julie Ketter tells CNBC Make It. That's because by law, the local government cannot increase the amount of tax revenue it collects by more than 1% each year without the residents voting to approve a larger amount. While property values continue to rise, the City's tax revenues don't rise in tandem," reads a June 2019 Medina city newsletter. "You may find it hard to imagine that the City doesn't have enough income to sustain current service levels, particularly in this economy. The problem is, even though Medina home values are increasing, the city's income is not rising at the same speed, the city says. So how is the home of the richest people on the planet coming up short? Yet Medina is running out of money - and the irony is lost on no one. (By comparison, the 2017 median household income in the U.S. ![]() ![]() with a median home value of $2.77 million, and the town has a median household income of $186,464 in 2017, the most recent data available. Click here to learn what those are.With a population of just over 3,000, Medina is the seventh richest zip code in the U.S. We’ve included affiliate links into this article. You can use them to create a quiet workspace for work-from-home days, a sweet pool cabana for water toys and supplies, a gardening hub to give your green thumb room to grow, a workout room that’s infinitely more motivating than a windowless basement - the possibilities are as endless as your imagination. But if it’s a backyard retreat you’re after, you really can’t beat the appeal of these modular kits. You’re probably not going to call these your full-time digs. Rooftop solar panels are an obvious solution, as fans of the episodes about off-grid tiny houses know - and some Amazon tiny home kits even come with solar power included. These cabins also don’t come with electrical wiring. These tiny homes also don’t come with materials for a foundation - and if you want to add one, that could make you subject to building and zoning codes, taxes, and permitting requirements. Sure, you could add one, but plumbing can be complicated, and it isn’t cheap. For instance, there are no bathrooms in these cozy abodes. Critics point out that these kit tiny homes do have their limitations. Tiny homes for sale on Amazon do have some detractors - we’ve noticed that they tend to be people who build or sell regular houses.
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