Why Can't People Afford a Home in Washington State?
By Cindy Alia 3/26/25
If you have a home, you may not soon if the Washington State legislative majority party has their way.
If you do not yet own a home, the Washington State legislative majority party will make it much more difficult for you to save to have a home.
Proposed Taxes (March 26, 2025)
Washington State proposes $5B-$8B in new taxes:
- Fuel: +6¢ (Senate) or +9¢ (House)/gallon, indexed; $250M-$300M/year.
- House Bills: Capital gains (7%), wealth (0.8%), property cap (1% to 3%), B&O surcharge, fees; $3B-$5B/year.
- Senate: 1% intangibles, payroll tax; $1.7B/year.
Inflation Drivers