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Spokane Valley advances first reading of 2026 property tax levy, forgoes 1% increase
Summary
At first reading council advanced Ordinance 25-016 to set the city's 2026 property tax levy at an estimated $14.3 million, roughly $0.79 per $1,000 assessed value; staff said the ordinance does not take the 1% state-allowed increase and that the city has forgone that increase for about 17 years.
The Spokane Valley City Council advanced Ordinance 25-016 on first reading to set the city's 2026 property tax levy, Finance Director Chelsea Walls told the council. Walls said the ordinance, required by state law to levy property taxes, does not take the 1% increase allowed under state statute. She said the levy includes an estimated $200,000 in new construction and totals about $14.3 million on preliminary assessed values of roughly $18.2 billion, producing an estimated rate of about $0.79 per $1,000 of assessed value — "virtually the same as our 2025 levy rate," she said.
Walls told the council the city plans to "bank" the unused 1% increase for future use under an existing ordinance authorizing capacity to bank the increase. When asked how long the city has forgone the 1% option, Walls replied it has been about 17 years.
The council advanced the ordinance to a second reading on Nov. 18 by unanimous voice vote. The ordinance must be provided to Spokane County by the statutory deadline to take effect for the 2026 tax year.
The next step is the second reading and final council vote; staff said they will return on Nov. 18 with the ordinance for adoption if the council moves it forward.
