THE PROBLEM TODAY IS:

PROPERTY TAXES ARE DOUBLING EVERY 6-8 YEARS

• Analysis of Washington State property tax rates for all counties shows that a number have property taxes growing at 9-12% per year. If this growth continues as it has for the last 15 years, your property taxes will keep right on doubling every 6-8 years.

PROPERTY TAXES ARE OUT-PACING WAGES AND PENSIONS

• Currently wages are growing about 2.8% per year while property taxes are growing at a statewide average of 10% per year. In the 14 counties where more than 70% of the population lives, property taxes are growing even faster than the state wide average.

ASSESSED VALUES ARE EXPLODING

• Washington State's assessed property values have grown at an average of 11% per year over the last 20 years. This cannot all be due to an inflation rate that has averaged 3-4% for the past several years.

THE SOLUTION TODAY IS:

WASHINGTON STATE INITIATIVE 184

INITIATIVE 184 WOULD STABILIZE YOUR PROPERTY TAX RATE

• It would stop your property taxes from doubling every 6-8 years.

INITIATIVE 184 WOULD STABILIZE PROPERTY VALUES

• It would establish 1995 assessed value as a standard base value for the existing real property and future construction. All property including commercial will be treated in the same uniform manner.

INITIATIVE 184 WOULD STABILIZE PROPERTY ASSESSMENT RATES

• It would allow your property tax assessment to increase by a maximum of 2% per year or decrease (to reflect decline in your property value) plus the fair value attributable to any improvements made by you to your property.

• It would gradually reduce the 106% levy limit to 102% by decreasing to 105% in 1998, to 104% in 1999 and finally to 102% in the year 2000.

• It would set the property tax levy limit at 102% of assessed value. Your real property taxes would grow by only 2% per year.

• New construction and improvements would contribute 3-4% in additional taxes, for a 5-6% growth per year in tax funds collected by a county.

• It would not effect ANY voter approved levies for SCHOOLS, hospitals, etc. as they are excluded from any tax limits found within initiative 184.

ACTS
Anonymous Citizens for Tax Sanity
409 Q St.
Port Townsend WA 98368
Phone: 360-385-0786
E-Mail to dwren@olympus.net

Last Modified 11/20/97