Inflation has turned Washington state's property tax cap into a county budget-killer
For two decades, Franklin County — an agricultural community of about 100,000 in south-central Washington — has been the fastest-growing county in the state.
But lately, county leaders have been scrambling to pay their bills. They spent $700,000 in limited federal COVID relief dollars last year simply to try to keep the local judicial system afloat. They’d pulled money from dwindled reserves, raided the road levy fund and put off construction, all to make the budget balance one more year.
And this year? They’ll need to cut another 15% from the general fund.
-snip-
No matter how fast property values increase, state law only lets most local governments increase their property tax revenue from existing properties by 1% without voter-approved ballot measures. Washington’s cap on property taxes is among the strictest in the country.
https://washingtonstatestandard.com/2024/03/22/inflation-has-turned-washington-states-property-tax-cap-into-a-county-budget-killer/
Another Tim Eyman initiative that was tossed out by the courts. However, the legislature freaked out and decided to encode it into law via an emergency session. I believe even Frank Chopp was one who pushed for it.
On the other hand Franklin County has probably supported most of Eyman's initiatives.
= new reply since forum marked as read
