Public colleges & universities

From the 2024 DOR Tax Exemption Study

84.36.010(1) - Public colleges & universities Description Real and personal property owned by public colleges and universities is exempt from property taxation. In addition, property leased to an institution of higher education by a nonprofit foundation established for the exclusive support of the institution is exempt. Purpose Property of the state government is exempt under the Washington Constitution. This reflects a long-standing legislative policy not to tax publicly owned property. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $55.704 $56.284 $56.872 $57.471 Local Taxes $164.766 $171.657 $178.864 $186.352 Repeal of Repealing a property tax exemption would not increase state revenues. A repeal exemption shifts the state property tax to the currently exempt taxpayers and reduces the tax burden of other taxpayers. It may decrease the local rate and possibly result in local taxing districts at their statutory maximum rate experiencing a revenue increase. A repeal of this exemption would require an amendment to Article VII of the Washington State Constitution. Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal