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Tuesday, November 12, 2024

Property tax revenue up 486.1% from previous quarter in the state of Washington

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Drew Shirk Director of the Department of Revenue at Washington Department of Revenue | Washington Department of Revenue

Drew Shirk Director of the Department of Revenue at Washington Department of Revenue | Washington Department of Revenue

Washington collected $2.1 billion in property taxes during the first quarter of 2023, a 486.1% increase over the fourth quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the fourth quarter of 2022 was $359 million.

Overall, Washington collected $9.6 billion in combined tax revenues in the the first quarter of 2023, an increase from the $8.5 billion collected in the previous quarter.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q1 2023 Washington Tax Collections
Type of TaxAmount (millions)
Property Taxes$2,104
Sales and Gross Receipts Taxes$6,493
License Taxes$524
Other Taxes$443
Source: U.S. Census Bureau

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