Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Property Taxes Cpi topic
No spam. Unsubscribe anytime.
Finance committee votes to recommend 2.9% CPI property tax adjustment for 2026 budget
Summary
The King County Finance and Budget Committee voted 4–2 to recommend using the 2.9% consumer price index (CPI) increase as part of the county—s fiscal year 2026 budget process; committee members discussed homeowner impacts, legal ceilings and next steps for final board action.
The King County Finance and Budget Committee voted 4 to 2 on July 30 to recommend directing the consumer price index increase of 2.9% be applied as part of the county—s fiscal year 2026 budget process. The committee chair opened the item as a resolution to "direct the use of the consumer price index increase as part of the fiscal year 2026 budget process." Finance Director Miss Hopkinson explained the CPI figure and staff estimates.
Committee members said the 2.9% CPI adjustment would generate roughly $2,000,000 in additional revenue for the year. "The CPI is at 2.9%, [which] would equate to approximately a $2,000,000 increase in revenues for the year," the committee chair said during discussion. Members asked how that increase would affect a typical homeowner; staff did not have a per-homeowner estimate available during the meeting.
The committee debated whether the CPI action is effectively permanent if adopted each year. Miss Hopkinson and the chair said the committee would revisit the CPI each year and could adopt all, part or none of the state-provided CPI figure for a given year. The chair clarified there is a statutory ceiling: "This year it's 2.9%. The ceiling for any year is 5%, which means you can never get more than that."
Supporters said the CPI adjustment helps preserve budget capacity amid rising costs. "I will support this. ... CPI, because it's really an adjustment for inflation," said Miss Lewis. Opponents expressed concern about adding to taxpayers' bills. Mr. Surges and Mr. Leonard voted no. The roll call showed the motion passed 4 to 2 (Yes: Juvy, Louis, Tepe, Berman; No: Surges, Leonard).
The committee chair noted the committee's recommendation is part of the budget-development process and not the county—s final levy vote: adoption of CPI as a revenue source will be revisited in the fall and presented to the full board at a later date. "This just affects the budget. This is not the approval, the final approval of the CPI. That'll be brought forward at a separate vote, in November most likely," the chair said.
What this means going forward: the committee—s action sends the recommendation to the executive committee and then the full county board for further consideration; the final decision on whether to include the CPI adjustment in the levy will be made later in the budget calendar.
