What is a “split roll” property tax system?

A “split roll” property tax system is a type of property tax system used in Washington. It focuses on the taxation of different types of property at different rates, which is why it is referred to as a “split” system. The split roll system divides and taxes real property into two categories: residential and business. Residential property is considered to be owner-occupied homes, whereas business property includes commercial and industrial buildings, as well as some forms of rental properties. The split roll system divides the taxation rates between the two categories of property. Residential property is typically taxed at lower rates than business property. This is to ensure that people who own homes are helped with taxes, while businesses are taxed at higher rates. The split roll system also allows governments to funnel money into areas that need it, such as infrastructure projects or educational programs. The split roll system is designed to distribute taxes in a more equitable manner. It is intended to provide tax relief to homeowners and businesses, while balancing the need for increased revenue. It can also help to boost economic growth by providing money to areas that need it. Ultimately, the split roll system is a way of ensuring that everyone pays their fair share.

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What is a “split roll” property tax system?

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