Abolishing excess enrichment and capital levies.

HJR 4205 proposes a constitutional amendment to cap Washington's total property tax levies at 1% of a property's true value annually. This would affect all Washington property owners by limiting annual tax rates, with specific exceptions allowing school/fire districts to exceed the cap for up to 4-6 years for facility projects, and taxing districts to exceed it for bond payments on capital projects. The amendment requires voter approval at the next general election and would replace the current constitutional tax limit in Article VII, section 2. It does not change current tax rates but sets a new annual ceiling for all property taxes combined.