This number is different for various counties across the state. In Washington State, the property tax rate is 1.031% of the assessed value of a home for 2020. Two changes in our state’s school funding formula will lead to a 13.7% increase in property tax collections in King County for the 2020 tax year. It continues to be the most important revenue source for public schools, fire protection, libraries, and parks and recreation. The Washington Property Tax Initiative was not on the ballot in Washington as an Initiative to the Legislature, a type of indirect initiated state statute, on November 3, 2020. Lakewood, University Place, Parkland-Spanaway and Fircrest areas will see the highest property tax increase at 20% Tacoma and Gig Harbor taxes will each go up an average of 14%. The new budget increases state property tax from $1.89 to $2.70 per $1,000 assessed value. In 2020, the state retail sales and use tax rate was 6.5% and as high as 10.4% in some municipalities. Today, property tax accounts for about 30 percent of total state and local taxes. Overall property tax collections for the 2020 tax year are $6.3 billion, an increase of $767 million or 13.7% from the previous year of $5.7 billion. The property tax increase is the largest allowed under state law and comes as … SEATTLE -- New laws enacted in Washington will expand property tax relief programs to seniors and disabled citizens, according to the Washington State Department of Revenue. For instance, the property tax rate in King County is 0.953%, while nationwide it is 1.080%. The Spokane City Council approved a 1% increase in property taxes in 2021 on Monday. Tim Eyman proposed two versions of the initiative: #1007 and #1015. The exact property tax levied depends on the county in Washington the property is located in. An immediate increase of $0.30 per $1,000 of value property tax increase resulted for the state school levy in 2020, he said. 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