Senator Lynda Wilson’s Property Tax Relief Plan Boosted By Latest Revenue Forecast – ClarkCountyToday.com

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Coupled with the increase projected in the forecast for the second quarter of this year, the outlook for the state’s 4-year budget period is up nearly $ 6 billion since the end of the 2021 session in April.

VANCOUVER – Despite the ongoing pandemic, the Washington State government revenue forecast for the third quarter shows a gain of $ 927 million for the current two-year budget cycle and $ 931 million for the 2023 cycle -25. The forecast was adopted today by the State Economic Revenue and Forecasting Council (ERFC).

Senator Lynda Wilson, who sits on the ERFC as the Republican leader of the Senate Ways and Means Committee, said lawmakers must turn recent state revenue gain into good news for Washington homeowners . Photo file

Coupled with the increase projected in the forecast for the second quarter of this year, the outlook for the state’s 4-year budget period is up nearly $ 6 billion since the end of the 2021 session in April.

Senator Lynda Wilson
Senator Lynda Wilson, R-17

Senator Lynda Wilson, who sits on the ERFC as the Republican leader of the Senate Ways and Means Committee, said lawmakers must turn the gain into good news for Washington homeowners.

“This year the people have been hit with an unconstitutional state income tax and new regressive taxes disguised as climate policies. The Majority Payroll Tax arrives in January, and a big package of new taxes and transportation costs could emerge at any time. There are 22 more taxes today than just three years ago. Everything was “take” and not “give”.

“Instead of spending this windfall on special interests, as the legislature tends to do, let’s put the interests of homeowners first and lower their taxes for once. I invite my fellow Democrats to consider our proposal to exempt the first $ 250,000 of assessed value from state property taxes. This exemption can be done without jeopardizing the services of the State, and each owner would see his tax bill decrease. The average Washington homeowner would see their property taxes cut by about half, and those who own homes estimated to be worth $ 250,000 or less would see that tax disappear altogether.

“I realize that the pandemic numbers have gone in the wrong direction, and we have to be careful, but this tax break would fit easily into the expected revenues. There would always be a cushion for the state, and people could finally keep more of their own money. “


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