OLYMPIA, Wash. — This story was originally published on MyNorthwest.com
A proposal to lift the current 1% cap on property tax growth to as much as 3% has been shelved.
According to The Washington State Standard, Democrats abandoned efforts to advance the plan because they lack a three-corners agreement—meaning the Democratic leadership of the House, Senate, and Washington Governor Bob Ferguson are not all on board. Ferguson said shelving the property tax plan was the right decision.
“We have to look at a lot of revenue sources, and I think we need to minimize the impacts on working people in the state,” Ferguson told The Washington State Standard Monday morning. “So I think they made the right decision.”
Property tax proposal part of HB 2049
The proposal was part of House Bill 2049, which would have allowed the cap to be raised to 3%, factoring in population growth and inflation.
A fiscal analysis obtained by The Washington State Standard estimated that uncapping the state property tax would have generated an additional $200 million for public schools and potentially $236 million for local governments in the next budget.
On Sunday, Rep. Steve Bergquist, D-Renton, the bill’s sponsor, filed an amendment to remove sections on the growth limit.
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