Cargo containers

From the 2024 DOR Tax Exemption Study

84.36.105 - Cargo containers Description Cargo containers principally used in ocean commerce are exempt from property tax. Purpose To help Washington ports compete with other West Coast ports. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.427 $0.430 $0.419 $0.416 Local Taxes $1.264 $1.311 $1.319 $1.348 Repeal of Repealing a property tax exemption would not increase state revenues. A repeal exemption shifts the state property tax to the currently exempt taxpayers and reduces the tax burden of other taxpayers. It may decrease the local rate and possibly result in local taxing districts at their statutory maximum rate experiencing a revenue increase. Potential ($ 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 $0.000 $0.000 $0.000 Assumptions - The total estimated exempt value is $193 million. - This repeal takes effect beginning with property taxes due for calendar year 2025. - Repealing this exemption shifts an estimated $400,000 in state property taxes to exempt property owners and shifts an estimated $1.2 million in local property taxes in fiscal year 2026. -