Washington : State Data and Comparisons : Data-Z

Washington

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Washington owes more than it owns.

Washington has a -$1,800 Taxpayer Burden.™

Washington is a Sinkhole State without enough assets to cover its debt.

Elected officials have created a Taxpayer Burden™, which is each taxpayer's share of state bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.

Washington only has $73.4 billion of assets available to pay bills totaling $78.7 billion.

Because Washington doesn't have enough money to pay its bills, it has a -$5.3 billion financial hole. To fill it, each Washington taxpayer would have to send -$1,800 to the state.

Washington's reported net position is understated by $1.2 billion, largely because the state delays recognizing gains resulting from decreases in retirement liabilities.

The state's financial report was released 176 days after its fiscal year end, which is considered timely according to the 180 day standard.