The bill would have raised the more than 20-year-old 1% cap on the growth of state and local property taxes to 3%, allowing cities and counties to increase property taxes by that much annually without voter approval, creating a devastating compounding effect.
The estimated compounding effect of SB 5770:
- Increase state and local property tax collections by an estimated $4.4 billion over the next five years
- Bloat to over $12 billion in new property tax revenue by 2034
“Washingtonians, including many who are already struggling to cover rising property tax bills, dodged a huge financial bullet with the failure of this bill,” said Corry, R-Yakima. “However, there are many other bills from majority Democrats still moving through the Legislature that will hurt your budget and your family should they pass.”
Corry pointed to several bills that would lead to further increases in the cost of housing, groceries, and gas, including:
- HB 2049-Places new costs on producers of packaging and paper products that will be passed on to consumers when they buy many common household items and groceries.
- HB 2144-The bill will increase your grocery bill by a $0.10 tax on each beverage container.
- HB 2301-Increases garbage bill costs by adding new collection service requirements for residents and businesses related to food and yard waste.
- HB 1433-Increases the cost of housing by authorizing counties and cities to require, prior to listing a house for sale, that a home energy score report be obtained.
- HB 2114 – (Rent control) Increases the cost of housing by placing arbitrary limits on rent increases that will reduce supply and ultimately encourage landlords to raise the maximum rent every year.
- HB 2276 – (REET 2.0) Increases the real estate excise tax, which disproportionally impacts renters through higher rent, and reduces housing supply by driving up home prices.
“These proposals by majority Democrats show how out of touch they are with what the average Washingtonian is dealing with,” said Corry. “For years, bad policies coming out of Olympia under the Democrat’s leadership have driven up the cost of everything in Washington. Add to that the impact of the pandemic and inflation, and we have seen people priced out of their homes or forced to choose between feeding their families or putting gas in the car to get to work. For the majority to propose these new policies that will add to the financial burden the people of our state are facing is unconscionable and tone deaf.”
Corry says House Republicans are committed to protecting the people of Washington state from new taxes, rising rents, or increased costs of goods.
“The state continues to bring in billions in surplus revenue, so there is absolutely no reason we should be taking one more cent of the public’s hard-earned money,” said Corry. “We will continue to fight these bad policies here in Olympia, but encourage any Washingtonian worried about the impact of these bills to reach out to their state representatives and senators as well Democratic leaders in the House and Senate.”
Contact Senate Majority Leader Andy Billig here.
Contact House Speaker Laurie Jinkins here.
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