Washington HB2743 reduces state property tax rates for common schools.

Washington HB2743 amends the state property tax rates for common schools. It sets the tax rate at $3.60 per $1,000 of assessed value for fiscal year 2019 and subsequent years. For tax years 2019 through 2021, the tax rate remains the same as in 2018. The bill also introduces a cap on the aggregate rate of state property taxes, limiting it to $3.60 per $1,000 of assessed value. The act applies to taxes levied for collection in 2027 and beyond.

Washington HB2743 reduces state property tax rates for common schools.

Washington HB2743 amends the state property tax rates for common schools. It sets the tax rate at $3.60 per $1,000 of assessed value for fiscal year 2019 and subsequent years. For tax years 2019 through 2021, the tax rate remains the same as in 2018. The bill also introduces a cap on the aggregate rate of state property taxes, limiting it to $3.60 per $1,000 of assessed value. The act applies to taxes levied for collection in 2027 and beyond.