Funding for education in the state of Washington is complex and can lead to questions about how schools receive the money needed to serve our community’s children. 

Funds for schools come from three main sources:

1. State funding for basic education

2. Levies

3. Bonds

Levies are for learning!

A local property tax passed by voters of a school district that generates tax revenue for local school districts. All money generated by school district levies goes directly to the school district to pay for enhancements to the state funded basic education.

The levy is a continued investment in our students; the ability to receive a high quality education and be better prepared for the careers of tomorrow.
 

Bonds are for building!

A school bond election is a bond issue used by a public school district, typically to finance a building project or other capital project. These measures are placed on the ballot by district school boards to be approved or defeated by the voting public.

Deferral

According to Pierce County, participants must apply each year with the Assessor-Treasurer's Office, be at least 60 years old on December 31 of the year in which you apply and not exceed an annual income of $52,741. For approval, the application for Senior Citizens or People with Disabilities must be completed and submitted along with the Deferral application.

If the property owner meets all of the requirements, the Department of Revenue pays the taxes and special assessments to Pierce County on behalf of the taxpayer. The deferred amounts paid by the state become a lien and must be repaid to the state, plus interest, when the property ownership is transferred (RCW 84.38).

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Exemption

According to Pierce County, this program is available to citizens who are at least age 61 by December 31, 2020 or retired from regular gainful employment by reason of a disability, with an income of $45,708 or less. Exemptions must be renewed once every six years unless there is a change in status or income. Proof of income is required in addition to the information requested on the application form. Proof of disability is also required.

The exemption freezes the value of the residence as of January 1 of the initial application year, exempts all excess levies and may exempt a portion of regular levies. The Assessor-Treasurer will continue to establish the market value of the property on an annual basis. Your taxes will be calculated on the lesser of market value or frozen value.

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