$6 Billion Property Tax Hike
One of the most contentious bills before the Legislature this year is Senate Bill 5770, which will triple the allowable annual growth rate of your local property taxes. This means local governments would be able to increase your property taxes by up to 3% WITHOUT VOTER APPROVAL. This will cost hardworking taxpayers $6 billion over 12 years and would compound from there.
The current 1% cap was approved by voters with Initiative 737 in 2001, however, the state Supreme Court invalidated it prompting then Gov. Gregoire to call a special session. The Legislature reinstated the 1% limit with nearly 85% of the House and Senate supporting it. Unfortunately, the proposal before us now would undo the will of the people.
Not only will this increase your property taxes if you are a homeowner, but it will also increase your rent when building owners pass the tax on to tenants. It would also increase costs at senior living centers. People can’t afford this amid a housing affordability crisis, especially while also paying higher prices on gas and home heating fuel thanks to other policies supported by the legislative majority.
I am opposed to this proposal because I can’t in good conscience add even more to the cost of living that our communities are experiencing but would like to know what you think.
More than 9,300 people signed in to testify on SB 5770 when it was heard in committee. More than 92% OPPOSED increasing their property taxes.
There are plans to run the bill on the Senate floor sometime tomorrow. We will hold a news conference at 9:30 a.m., Thursday, Feb. 8. If you cannot attend, you can watch the news conference live on TVW by clicking here.
You can also watch it live on our Facebook and X accounts @WashingtonSRC.
