THE PROBLEM:
WASHINGTON STATE'S PROPERTY TAXES ARE DOUBLING EVERY 6-8 YEARS
Analysis of Washington State property tax rates for all counties shows that many are growing 9-12% per year. If this growth continues as it has for the last 15 years property taxes will double every 6-8 years.

PROPERTY TAXES ARE OUT-PACING WAGES AND PENSIONS
Currently wages are growing about 2.8% per year while property taxes are growing at a statewide average of 10% per year. In the 14 counties where more than 70% of the population live, property taxes are growing even faster than the 10% state wide average.

PROPERTY ASSESSED VALUES ARE EXPLODING
Washington State's assessed property values have grown at a average of 11% per year over the last 20 years. This cannot all be due to an inflation rate that has averaged 3-4% for the past several years.

THE SOLUTION:
INITIATIVE 184 -- STABILIZES RUNAWAY PROPERTY TAXES
Authored by State Representative Steve Hargrove

1. I-184 stops property taxes from doubling every 6-8 years.

2. I-184 establishes 1995 assessed value as a standard base value for the existing real property and future construction. All property including commercial is treated in the same uniform manner.

3. Thereafter would allow assessed values to increase by a maximum of 2% per year or decrease (to reflect decline in value) plus the fair value attributable to any improvements.

4. The current 106% levy limit would be gradually reduced to 102% by decreasing to 105% in 1998, to 104% in 1999 and finally to 102% in the year 2000.

5. With a maximum of 2% growth in assessed value and a levy limit of 102%, taxes on existing real property would grow by 2% per year. All voter approved levies are excluded from this limit.

6. In addition new construction and improvements would contribute 3-4% in additional taxes, for a total of 5-6% growth per year in taxes collected by a county.

Please make a contribution to stop property tax hikes.

$100_______ $50_______ $30_______ $10_______ other________

For your copy of the petition send a SELF ADDRESSED STAMPED envelope to: