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Thursday, November 14, 2024

Washington's property tax revenues up 0.9% in Q1 compared to same quarter of the previous year

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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

The state of Washington collected $2.1 billion in property taxes during the first quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This represents a 0.9% increase over the same quarter the previous year, when property tax revenues were $2.1 billion.

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 it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments. Also, not all states collect all types of taxes.

Overall, Washington collected $9.7 billion in combined tax revenues in Q1.

Q1 Washington Tax Collections

Type of TaxAmount (millions)
Income Taxes$12
License Taxes$517
Other Taxes$422
Property Taxes$2,122
Sales and Gross Receipts Taxes$6,629

Source: U.S. Census Bureau

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