Budget Stalemate in Olympia: Possible tax increases that impact the commercial real estate industry
The 2017 session of the Washington State Legislature is now in its second 30-day special session in order to find agreement on the level and sources of funding for the McCleary decision to fully fund K-12 education. The legislature is expected to reach agreement by the end of the special session on June 21, or by June 30, the final day of the current biennium.
The Washington Supreme Court ruled in McCleary that school districts’ reliance on local levies, and the ability of local communities to pay for those levies, varied dramatically around the state and resulted in inequitable funding of K-12 education. The legislature’s challenge has been to equitably fund education statewide.