Sen. Lynda Wilson’s plan to ease property tax is bolstered by the latest sales forecast – ClarkCountyToday.com
Date: Friday, September 24, 2021
Coupled with the increase projected in this year’s second-quarter forecast, the outlook for the state’s 4-year budget has risen by nearly $ 6 billion since the end of the 2021 session in April
VANCOUVER – Despite the ongoing pandemic, the Washington state government’s revenue forecast for the third quarter is $ 927 million for the current two-year fiscal cycle and $ 931 million for the 2023-25 cycle. The forecast was approved today by the state’s Economic Revenue and Forecast Council (ERFC).
Senator Lynda Wilson, who serves as the ERFC’s Republican chairman on the Senate Ways and Means Committee, said lawmakers need to turn recent state revenues into good news for Washington homeowners. File photo
Coupled with the increase projected in this year’s second-quarter forecast, the outlook for the state’s 4-year budget has risen by nearly $ 6 billion since the end of the 2021 session in April.
Senator Lynda Wilson, R-17
Senator Lynda Wilson, who serves as Republican chairman of the ERFC’s Senate Committee on Ways and Means, said lawmakers need to turn the profit into good news for homeowners in Washington.
“This year, people have been hit by an unconstitutional state income tax and regressive new taxes disguised as climate policy. The majority payroll tax comes in January, and a large package of new transportation taxes and fees could emerge at any time. There are 22 more taxes today than there were three years ago. It was all “taking” and not “giving”.
“Instead of spending this stroke of luck on special interests, as lawmakers do, we should put the interests of homeowners first and lower their taxes once. I invite my Democratic colleagues to look at our proposal to exempt the first $ 250,000 of appraised value from state property tax. This exemption can be done without jeopardizing government services and any homeowner would see a lower tax bill. The average Washington homeowner would see their state property taxes cut by about half, and those who own homes valued at $ 250,000 or less would see that tax go away entirely.
“I understand the pandemic numbers have gone in the wrong direction and we need to be careful, but this tax break would easily fit into expected revenues. There would still be a cushion for the state and people could finally keep more of their own money. “