2005 Washington Revised Code RCW 84.55.012: Reduction of property tax levy — Setting amount of future levies.

(1) The state property tax levy for collection in 1996 shall be reduced by 4.7187 percent of the levy amount that would otherwise be allowed under this chapter without regard to this section or any other tax reduction legislation enacted in 1995.

     (2) State levies for collection after 1997 shall be set at the amount that would be allowed otherwise under this chapter if the state levies for collection in 1996 and 1997 had been set without the reduction under subsection (1) of this section.

[1997 c 2 § 1; 1995 2nd sp.s. c 13 § 2.]

Application -- 1997 c 2 § 1: "Section 1 of this act applies to taxes levied for collection in 1997." [1997 c 2 § 3.]      Effective date -- 1997 c 2 § 1: "Section 1 of this act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect immediately [January 30, 1997]." [1997 c 2 § 4.]      Intent -- 1995 2nd sp.s. c 13: "With property valuations continuing to increase, property taxes have been steadily increasing. At the same time, personal incomes have not continued to rise at the same rate. Property taxes are becoming increasingly more difficult to pay. Many residential property owners complain about the overall level of taxes and about the continuing increase in tax from year to year. Taxpayers want property tax relief. The legislature intends to establish an on-going program of state property tax reductions the amount of which is to be determined by the legislature on a yearly basis based on the level of general fund tax revenues." [1995 2nd sp.s. c 13 § 1.]