About the Author
Key Findings
- In 2001, voters enacted a law that limits increases in regular property tax collections state and local officials can impose, to 1% per year.
- The policy was affirmed by most lawmakers of both parties and supported by Democratic Governor Christine Gregoire.
- This modest tax-limitation policy works well; state and local governments are well funded, revenues are rising while keeping yearly property tax increases at a more reasonable level.
- The 1% limit restricts the greed of some public officials whose constant complaints about wanting more money comes across as mean-spirited and insensitive.
- Now some state lawmakers want to take away the 1% property tax limit, and expose owners of homes, farms, condos and businesses to yearly increases of up to 3%.
- The bill, SB 5770, would represent a 300% boost in the yearly increase in money officials take from the public.
- The financial burden of SB 5770 would fall hardest on the poor, immigrants, working families and elderly people living on fixed incomes.
Introduction
In 2001, Initiative 747, which limited property tax increases to 1% per year, was passed by the voters of Washington by a margin of 58% to 42%.
Prior to passage of the initiative, cities and counties were able to raise their regular property tax collections by 6% per year and many cities and counties did so every year. After legal action struck down the initiative at the state supreme court, Governor Christine Gregoire called the legislature into special session and subsequently re-instated the voter-approved cap. The tax-limitation bill had overwhelming bipartisan support, with 85% of both chambers voting in the affirmative.
READ THE FULL LEGISLATIVE MEMO HERE
