I’m off to Olympia today to testify before the House Finance Committee on behalf of HB 1744, the Property Tax Homestead Exemption. If any of you happen to be wondering the halls of the John L. O’Brien Building at 1:30 PM, stop by Hearing Room C and say hello.
I’ll post a report later this evening.
I’ll be the first here to say good luck and thanks for pushing this bill before JCH starts posting on voter fraud in Wisconsin (sorry, JCH, but as a conservative, let me say YOU’RE NOT HELPING).
I think this bill a good first step in addressing our screwed up tax system in Washington. Also, I want to ask the other R’s out there who have been poo-poohing this bill…did you support Timmy E’s 25% property tax cut initiative last year? The reason I ask is that was a massive redistribution of wealth proposal, too, right?
Jon @ 1
I take exception only to the wording of your last sentence. It could be read to imply that Goldy’s proposal entails a massive redistribution of wealth. In fact, it is a very modest proposal compared with Eyman’s tax cut iniative from last year. A point of criticism could be that it is too modest (but it suits me as is).
Jon @ 1
The proponents of this bill need to tell us how much of a redistribution the bill actually is, that’s when it’s chances for passage will be a little clearer. As it stands now, we know that properties other than owner occupied residential will see property taxes increase by __?__(fill in your best guess)_?__ percent. I do agree that the exemption looks like a good attempt to help out those “homesteaders” who were being overwhelmed by increasing tax bills. Whether it has a prayer of passing depends on how big of a hit business and renters are expected to take. I also agree that supporting Eyman’s rollback initiative would have been insane.
According to the fiscal note attached to the bill, it would shift about $120 million of state property taxes, and $260 million of local propert taxes, annual. That sounds like a lot, but it’s really just a little piss in the pot of state and local taxes.
We will be asking DOR for a county by county breakdown of home value quintiles, as well as an accounting of where exactly the burden will be shifted.
RDC @ 2:
My apologies for the use of “massive”, it was overstating the effects of the homestead exemption. I was/am attempting to get other R’s out there to compare Eyman’s efforts and this proposed bill. I have never supported Eyman’s initiatives, as I think we elect representatives for a reason, and if they are not doing their job, then get rid of them. The voters keep electing the same people over and over again, and then complain about not being heard.