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Published on Friday, June 2, 2017

Property tax bill expected to be in play in budget negotiations

AWC priority bill HB 1764, would change the annual property tax limit from one percent to a limit linked to inflation and population growth. This state and local revenue authority is expected to be linked to end-of-session budget negotiations.

Property tax is the largest revenue source for cities in Washington State comprising nearly 25 percent of revenues for city services. Since 2001, annual increases have been capped at one percent, preventing property tax from keeping pace with inflation and population growth.

For more information on the bill and key messages, see the fact sheet.

Categories: Budget & finance