Modifying the annual regular property tax revenue growth limit.

HB 1334 modifies Washington State's rules for limiting annual growth in local property tax revenue, directly affecting cities, counties, and other taxing districts. The bill replaces the previous inflation measure with the Western Region Consumer Price Index and sets the growth limit at 100% plus population change and inflation (capped at 103%), while small districts (under 10,000 population) remain limited to 101%. It repeals a prior provision allowing some districts to use a 101% limit factor and requires new calculations for tax limits starting in 2026. These changes aim to adjust how property tax revenue growth is calculated for local government funding.