South Kitsap Chamber of Commerce Legislative Update

Early last week a new bill was introduced into the Washington State Senate that would allow the cap in property tax increases to go from 1% annually to as much as 3%.

The bill was introduced after normal legislation business was concluded but introduced as a fiscal bill "necessary to implement the budget" This bill would have important ramifications for local jurisdictions that depend on property taxes for funding. This includes schools and Fire departments.

There is currently no Bill report filed, but you can view the original bill at the link below. YOU CAN ALSO LET YOUR LEGISLATOR KNOW HOW YOU FEEL ABOUT THIS INCREASE.

View the bill here: SB 5770

You can comment on the bill here.

A similar bill is also in the House and can be accessed below.

View the bill here: HB1670

You can comment on this: bill here

Both bills are still in their respective Finance committees.

House bill 1828 was recently amended and voted out of the House Finance Committee. Among other provisions, the bill would allow local governments to raise the local REET by .5% on all transactions and it would raise the state portion on tier 4 REET from 3% to 3.5%.

The AWB has drafted a letter urging lawmakers to oppose the bill and we are asking organizations to sign on. Here is the link to the letter: https://forms.gle/qguRni4FH8B3dPfR9

Please consider signing the letter and add your organization’s name near the bottom of the page. The letter will remain open until the end of the day on Tuesday. 

You can read more on the bill, comment to your legislator, and request update notifications here: 2SHB1628

State revenue projection for 2023–25 forecast decreased by $483 million

Proposed 2023-25 Biennial and 2023 Supplemental Operating Budgets - PSSB 5187 Summary

Senate 2023-25 Biennium and 2023 Supplemental Capital Budget Proposals

House 2023-25 Biennial and 2023 Supplemental Capital Budget Proposals

Proposed 2023-25 Biennial & 2023 Supplemental Operating Budget - Budget Summary

Be sure to check out other bills currently on our Bill Watch List.