Triples cap for property tax increases

Summary

Due to a voter-approved referendum and subsequent action by the legislature, property tax increases by local governments in our state are not allowed to exceed 1% annually, which along with no income tax, is one of the few tax advantages offered to Washingtonians. Even with that, Seattle has some of the highest property taxes in the nation, as covered Feb. 9 in the Seattle Times. This bill would toss that cap aside and allow annual property tax increases up to 3%, which would have a massive compounding effect on homeowners.

KEY LINKS

– Washington State Legislature bill page

Last Action

Did not advance out of Senate Committee