Reducing state property taxes.

Summary

The bill rewrites the formula Washington uses to levy property taxes that support public schools, cutting the total amount collected by $2.1 billion. It sets a maximum combined rate of $3.60 per $1,000 of assessed property value and directs most of the revenue to the state general fund, with a single‑year deposit to an education legacy trust. The change impacts all owners of taxable property and reduces funding available for school construction bonds.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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