OLYMPIA, Wash. — The Senate has passed a one-time statewide property tax cut over the objections of Republicans who argued that majority Democrats improperly paid for it by redirecting revenue that would normally go to emergency reserves.
Senate Bill 6614 passed on a 25-23 vote Wednesday and now heads to the House for consideration.
Under the $391 million plan, which is part of an overall supplemental budget proposal by House and Senate Democrats, property owners will see a 30-cent cut to statewide property taxes next year, dropping from $2.70 per $1,000 of assessed value to $2.40.
Under the plan, $935 million from the remaining property tax revenues will be diverted to a specified education account instead of going to the constitutionally-protected “rainy day” fund. That money will be put toward teacher salaries and other K-12 investments.