Washington HB1997 reduces statewide property tax revenues by 10 percent without shifting the burden to other taxpayers.

Washington HB1997 amends state property tax laws to reduce the highest lawful levy for property taxes by 10 percent for calendar years 2026 through 2028. This reduction applies to both part I and part II highest lawful levies, affecting the amount of state property taxes levied for the support of common schools. The bill ensures that the reduction does not shift the tax burden to other taxpayers, maintaining the aggregate rate limit at $3.60 per $1,000 of assessed value. The changes apply to taxes levied for collection starting in 2026.

Washington HB1997 reduces statewide property tax revenues by 10 percent without shifting the burden to other taxpayers.

Washington HB1997 amends state property tax laws to reduce the highest lawful levy for property taxes by 10 percent for calendar years 2026 through 2028. This reduction applies to both part I and part II highest lawful levies, affecting the amount of state property taxes levied for the support of common schools. The bill ensures that the reduction does not shift the tax burden to other taxpayers, maintaining the aggregate rate limit at $3.60 per $1,000 of assessed value. The changes apply to taxes levied for collection starting in 2026.