The exact property tax levied depends on the county in Washington the property is located in. It continues to be the most important revenue source for public schools, fire protection, libraries, and parks and recreation. 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. The personal finance website WalletHub has released its 2020 Property Taxes by State report, which offers a comparison of annual property taxes across the United States. 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. In Washington State, the property tax rate is 1.031% of the assessed value of a home for 2020. Property tax was the first tax levied in the state of Washington. 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. In 2020, the state retail sales and use tax rate was 6.5% and as high as 10.4% in some municipalities. The property tax increase is the largest allowed under state law and comes as … For the 2020 tax … 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. This number is different for various counties across the state. For instance, the property tax rate in King County is 0.953%, while nationwide it is 1.080%. Tim Eyman proposed two versions of the initiative: #1007 and #1015. An immediate increase of $0.30 per $1,000 of value property tax increase resulted for the state school levy in 2020, he said. Those taxes brought in 45% of Washington's total yearly revenue or about $22 billion, according to the state Department of Revenue. 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