A new bill revising the 1% cap for state and local property tax to inflation and population, up to 3%, SB 5770, was introduced last week
as rumors continue to circulate that a property tax cap fix could be part of final budget negotiations. The window for action is narrow with just one week left in session. But we are still hopeful that the Legislature will take action on this proposal
to fix the arbitrary cap.
Contact your legislator today to ask them to pass SB 5770 and tell them:
- The current 1% cap is arbitrary and does not keep pace with the costs of city services. Inflation alone has averaged 2.4% in the past decade.
- Cities and other local governments rely on property taxes as a major revenue source for services – about 22% of all city revenues, but larger in cities with little retail activity. Share how the arbitrary 1% cap impedes your ability to provide needed services in your community.
- In a recent poll of likely voters 72% indicated support for a 3% cap on property tax revenue. This proposal is a local option for a modest change.
- Local officials can be trusted to make good decisions for the communities they are elected to represent. Talk with them about how your community might use this tool to fund critical services.