Olympia’s latest threat to your wallet: 5-fold increase in property tax increases
This is what happens in Olympia without the 2/3 protection: two days ago, a brand new bill, House Bill 2255, got introduced during the recently called special session (when no one is paying attention) and it imposes a 5-fold increase in property tax increases.
It is terrifying.
For many years, each level of government could impose a 6% per year property tax hike. So state government imposed 6% per year, counties 6% per year, cities 6% per year, ports 6% per year, fire/library/park/hospital/
So in 2001, we sponsored Initiative 747 and voters overwhelmingly approved a 1% per year limit. So 1% for state government, 1% for counties, 1% for cities, 1% for ports, etc. — the only way to exceed that 1% cap has been to get voters’ permission at the ballot box.
House Bill 2255 gets rid of the voters’ 1% limit and allows each level of government to unilaterally jack up property taxes 5% per year without voters’ permission.
Can taxpayers afford a 5-fold increase in their property tax increases? Massive increases in property taxes mean skyrocketing house payments, skyrocketing rent payments, and skyrocketing commercial lease payments (meaning higher prices for most everything you buy).
The ripple effects of this massive tax increase would be devastating to struggling taxpayers.
But this is what Olympia does when there’s no 2/3 protecting us.
The Legislature is going absolutely bonkers this session. Even before this bill was introduced, there were $43 billion+ in tax hikes being pushed by the House and $26 billion+ by the Senate (with Inslee cheerleading for “more, more, more”).
It is critical we get the 2/3-For-Taxes Constitutional Amendment Initiative on the ballot. This legislative session has illustrated how truly terrifying Olympia is without the 2/3. Voters deserve the chance to put the 2/3 protection in our state Constitution.
Success is the only option with the signature drive for I-1366. Please help us make it happen.