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HB 2049 - Increases State Property Tax Rates - Washington Key Vote

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Title: Increases State Property Tax Rates

Vote Smart's Synopsis:

Vote to pass a bill that increases state property tax rates in Washington.

Highlights:

  • Amends provisions related to funding K-12 education by modifying the state and local property tax authority and adjusting the school funding formula in Washington (Sec. 1). 

  • Authorizes levies of up to $2.50 per $1,000 assessed property value or calculated per-student cap (Sec. 1). 

  • Establishes an “inflation enhancement:” to increase the per-pupil cap annually from 2026 to 2030 (Sec. 1). 

  • Specifies that the Local Effort Assistance per-student cap is $1,550 and shall be adjusted annually for inflation (Sec. 2). 

  • Defines certain eligibility and formulas for Local Effort Assistance based on student enrollment and assessed property value (Sec. 2). 

  • Establishes a work group led by the Superintendent of Public Instruction to study school funding equity (Sec. 3).

  • Requires the work group to submit annual reports to the Legislature, beginning in 2025 and continuing through 2027 (Sec. 3). 

Full Bill Text

See How Your Politicians Voted

Title: Increases State Property Tax Rates

Vote Smart's Synopsis:

Vote to pass a bill that increases state property tax rates in Washington.

Highlights:

  • Amends provisions related to funding K-12 education by modifying the state and local property tax authority and adjusting the school funding formula in Washington (Sec. 1). 

  • Authorizes levies of up to $2.50 per $1,000 assessed property value or calculated per-student cap (Sec. 1). 

  • Establishes an “inflation enhancement:” to increase the per-pupil cap annually from 2026 to 2030 (Sec. 1). 

  • Specifies that the Local Effort Assistance per-student cap is $1,550 and shall be adjusted annually for inflation (Sec. 2). 

  • Defines certain eligibility and formulas for Local Effort Assistance based on student enrollment and assessed property value (Sec. 2). 

  • Establishes a work group led by the Superintendent of Public Instruction to study school funding equity (Sec. 3).

  • Requires the work group to submit annual reports to the Legislature, beginning in 2025 and continuing through 2027 (Sec. 3). 

Full Bill Text

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