Nonprofit libraries

From the 2024 DOR Tax Exemption Study

84.36.040(1)(b) - Nonprofit libraries Description Nonprofit free public libraries are exempt from property taxes on real and personal property. Purpose Supporting the social benefits that nonprofit public libraries provide. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.038 $0.038 $0.039 $0.040 Local Taxes $0.111 $0.117 $0.124 $0.131 Repeal of Repealing a property tax exemption would not increase state revenues. A repeal exemption shifts the state property tax to the currently exempt taxpayers and reduces the tax burden of other taxpayers. It may decrease the local rate and possibly result in local taxing districts at their statutory maximum rate experiencing a revenue increase. Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.000 $0.000 $0.000 Local Taxes $0.000 $0.004 $0.007 $0.007 Assumptions - The total estimated exempt value is $17.3 million. - This repeal takes effect beginning with property taxes due for calendar year 2025. - Growth rate mirrors the property tax growth rate reflected in the Economic and Revenue Forecast Council's March 2023 forecast. - Repealing this exemption sh