MRSC Insight Blog
Posts for Property Taxes
Primary elections generally see some ballot measures succeed and some fail across the state. This past August, libraries, rec centers, and fire districts fared well, but public hospital districts saw mixed success. And, as always, levy lid lift measures achieved mixed results.
Does your local government lease property to an individual, business, nonprofit, or another local or state government? If so, your agency should be collecting and reporting leasehold excise tax to the Washington Department of Revenue.
Inflation is at a 40-year high, but property tax revenues are limited to a 1% increase each year. Multi-year levy lid lifts can help local governments cope with these inflationary pressures — but will voters approve them? Let’s look at the data.
Local governments looking to use levy lid lifts to help with increased costs should carefully consider several issues, such as type, duration, future fiscal need, capacity, and how to best frame the lid lift for a successful vote.
This article looks primarily at local property tax measures from the recent general election — including levy lid lifts, EMS levies, bond measures, and funding for parks, libraries, and affordable housing.
In this month's Finance Advisor column, Tracey Dunlap, City of Kirkland Director of Finance and Administration, gives us a "property tax 101" overview of the limits on regular property taxes.
The City of Kirkland was fortunate to have two levy lid lift measures pass on the November 2012 general election ballot. The city's finance director explains how the city approached the two measures and what may have contributed to their success.