What is a split roll property tax?

A split roll property tax is a type of property tax system that taxes different types of real property differently. In the state of Washington, a split roll property tax applies different rates to residential and commercial properties. This means that businesses would pay a higher rate of property tax on their property compared to residential owners. Property taxes are generated from a combination of local, county and state assessment authorities. When split roll property taxes are in place, it allows for differences in property taxes for different types of property. This is done to ensure that businesses and other property owners are paying their fair share of taxes, while homeowners are paying appropriate taxes based on the value of their property. Split roll property taxes provide more equity in taxation for local taxing jurisdictions, as it allows for businesses to pay taxes based on their property value, while homeowners’ taxes remain the same. It also allows for more money to be collected and distributed on the local level. This is beneficial to local governments and school districts as they receive funds that are needed to provide services and to maintain infrastructure. Split roll property tax systems are beneficial to everyone involved as it ensures fair taxation and allows local governments and school districts to adequately fund their operations. By having different tax rates applied to different types of property, it ensures that everyone pays their fair share of taxes while also providing necessary funds for local services.

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What is a split roll property tax?

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