OLYMPIA, Wash. (AP) — The Legislature on Thursday night passed a one-time statewide property tax as part of the overall supplemental budget plan the chambers passed earlier in the day.
The House passed the measure on a 59-39 vote Thursday night, a day after the Senate passed it on a 25-23 vote. It now goes to Gov. Jay Inslee for his signature.
Under the $391 million plan, 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.
The property tax cut comes after the Legislature last year passed an 81-cent increase to the statewide property tax that started this year.