When Ray Bradley and his wife built their dream home on the Spokane River seven years ago, the tax man said it was worth $112,000 and the annual property tax bill was $1,800.
This year, the same home commands a $337,000 valuation and a $5,800 tax bill, Bradley told the City Council on Thursday night. If the trend continues, it means that by the time Bradley retires in the year 2010, his home will have an assessed valuation of $15.5 million and the taxes will cost $277,000 a year, he said.