Washington HB1729 reduces state property tax levies to provide tax relief to residents.

Washington HB1729 responds to the McCleary v. State decision by reducing state property tax levies, aiming to alleviate the tax burden on residents. The bill adjusts the tax rates for state school levies, ensuring they do not exceed $3.60 per $1,000 of assessed value. It sets specific rates for tax years 2019 through 2021 and establishes new limits for 2026 and beyond. The changes apply to state property taxes levied for the support of common schools, excluding certain facilities and levies for principal and interest on general indebtedness.

Washington HB1729 reduces state property tax levies to provide tax relief to residents.

Washington HB1729 responds to the McCleary v. State decision by reducing state property tax levies, aiming to alleviate the tax burden on residents. The bill adjusts the tax rates for state school levies, ensuring they do not exceed $3.60 per $1,000 of assessed value. It sets specific rates for tax years 2019 through 2021 and establishes new limits for 2026 and beyond. The changes apply to state property taxes levied for the support of common schools, excluding certain facilities and levies for principal and interest on general indebtedness.