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Saturday, September 21, 2024

The state of Washington sees more property tax revenue in Q1

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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, a 420.1% increase over the fourth quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the fourth quarter of 2023 was $408 million.

Overall, Washington collected $9.7 billion in combined tax revenues in the first quarter, an increase from the $8.2 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 Washington Tax Collections
Type of TaxAmount (millions)
Property Taxes$2,122
Sales and Gross Receipts Taxes$6,629
Income Taxes$12
License Taxes$517
Other Taxes$422
Source: U.S. Census Bureau

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