Nonprofit water cooperatives

From the 2024 DOR Tax Exemption Study

84.36.250 - Nonprofit water cooperatives Description Property tax does not apply to real and personal property owned by a nonprofit corporation or cooperative association that distributes water to shareholders or members. Purpose Providing equal treatment for private, nonprofit, and public work distributors and districts. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.185 $0.190 $0.194 $0.199 Local Taxes $0.548 $0.579 $0.611 $0.645 Repeal of Repealing a property tax exemption would not increase state revenues. A repeal exemption shifts the state property tax to the currently exempt taxpayers and reduces the tax burden of other taxpayers. It may decrease the local rate and possibly result in local taxing districts at their statutory maximum rate experiencing a revenue increase. Potential ($ 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 $0.017 $0.033 $0.035 Assumptions - The total estimated exempt value is $85.3 million. - This repeal takes effect beginning with property taxes due for calendar year 2025. - Growth rate mirrors the property tax growth rate reflect