WA People
BILL · 2017–18 SESSION

HB 2993: Property tax levies

Transferring nine hundred ninety-five million eight hundred two thousand dollars from the budget stabilization account to the state general fund to offset the revenue impact of reducing the combined rate for state property tax levies to 2.365 dollars per thousand dollars of assessed value for taxes levied for collection in calendar year 2019 and to two dollars and thirty cents per thousand dollars of assessed value for taxes levied for collection in calendar year 2020.

Summary

  • Reduces the aggregate state property tax levy rate from $2.70 per $1,000 of assessed value (AV) to $2.365 per $1,000 AV for taxes levied for collection in 2019 and to $2.30 per $1,000 AV for taxes levied for collection in 2020.
  • Transfers $995.802 million from the Budget Stabilization Account to the State General Fund to offset the revenue impact of the state property tax reduction.

From the House Bill Report (HB 2993), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · stalled on the House floor
  1. IntroducedFeb 20, 2018
  2. Out of committeeFeb 26, 2018
  3. Passed Housestopped here
  4. Passed Senate
  5. Governor
  6. Law
Prime sponsor
Pat Sullivan (D-47)
Introduced
February 20, 2018 in the House
Last action
February 26, 2018
Budget
Has a fiscal note

AN ACT Relating to transferring nine hundred ninety-five million eight hundred two thousand dollars from the budget stabilization account to the state general fund to offset the revenue impact of reducing the combined rate for state property tax levies to 2.365 dollars per thousand dollars of assessed value for taxes levied for collection in calendar year 2019 and to two dollars and thirty cents per thousand dollars of assessed value for taxes levied for collection in calendar year 2020;

Sponsors

Prime sponsor: Pat Sullivan (D-47)

3 co-sponsors (3 Democrats, 0 Republicans)

Kristine Lytton D-40Lillian Ortiz-Self D-21Gerry Pollet D-46

Votes

No recorded floor votes.

History

  1. Referred to Rules 2 Review.
  2. Minority; do not pass.
  3. FIN - Majority; do pass.
  4. First reading, referred to Finance (Not Officially read and referred until adoption of Introduction report).

HB 2993 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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