Puyallup Considers Banked Property Tax Capacity to Address Budget Shortfalls
Cities in Washington State, including Puyallup, are increasingly considering using banked property tax capacity to address budget shortfalls. This option, which allows cities to increase property tax revenue without voter approval, has significant implications for homeowners, as Puyallup plans to raise property taxes by an average of $3 a month for owners of $491,000 homes starting in 2025.