Notice of Introduction for Senate Bill 5798 - 10 Year Analysis Complete
Office of the Governor / Office of Financial Management sent this bulletin at 04/09/2025 10:34 PM PDT
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SB 5798, titled AN ACT Relating to property tax reform by increasing funding for public schools, public safety, criminal justice, community protection, and other vital public services commensurate with population growth and inflation, providing additional
property tax reductions under the senior citizen property tax relief program, and making the use of state property tax revenues more transparent, has been introduced in the Senate. The Office of Financial Management has identified this bill as requiring
a ten-year projection of increased cost to the taxpayers or affected fee payers.
Ten-year projection:
|
Fiscal |
Property tax |
|
|
|
||
|
2026 |
$35,900,000 |
|
|
2027 |
$130,000,000 |
|
|
2028 |
$250,300,000 |
|
|
2029 |
$363,500,000 |
|
|
2030 |
$482,400,000 |
|
|
2031 |
$618,000,000 |
|
|
2032 |
$762,500,000 |
|
|
2033 |
$915,500,000 |
|
|
2034 |
$1,072,100,000 |
|
|
2035 |
$1,232,200,000 |
|
|
|
||
|
Total: |
$5,862,400,000 |
|
Ten-year projection prepared in consultation with the following agencies:
Department of Revenue
Bill sponsors and contact information:
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp