OLYMPIA, Wash. – A new property tax reform bill promising increased funding for public schools, safety, and justice services is on the table in Olympia.
The proposed legislation seeks to adjust the annual property tax growth limit. The new limit would be the greater of 100 percent plus inflation and population change or 101 percent, according to language in the bill.
Proponents tout the bill as a way to address the limitations imposed by the current one percent cap on property tax growth which they claim hinders state and local governments’ ability to provide essential services amid population growth and inflation…