The Institute on Taxation and Economic Policy, a DC based nonpartisan research group, has recently released an analysis: “The Impact of the Ron Sims Tax Plan on Washington Tax Fairness“.
Known for their tax simulation model, ITEP reports that under the Sims plan, Washington would move from having the most unfair tax system in the nation to having the least unfair tax system… all while saving state taxpayers $1.25 billion annually in total federal, state, and local taxes.
Not bad, huh?
I am all for this. I have never seen a Washington candidate do anything that makes as much sense as this. This state is on a long spiral twards economic ruine and this aggressive tax revolution will save the states economy. Way to go Ron. I tend to be more Republican than Democrat these days but Ron has my vote for Govenor.
This does nothing for the property owners. Washington needs to take th schools off the property owners backs! Sorry Ron
Ronnie, first of all, the Sims plan does do something for most property owners. The $100,000 Property Tax Homestead Exemption provides signicant savings, weighted towards lower priced homes… for example, the owner of a $150,000 home would see their total property tax bill fall by over a fifth. And since 80% of households see a net tax savings, it most homeowners pay less taxes overall.
But second… contrary to popular belief, WA is not a high property tax state. Even according to the Tax Foundation (the source of most of Eyman\’s statistics) WA ranks 35th nationally in local property taxes per capita, and 41st as a percentage of personal income.
But I agree, property taxes are the wrong way to fund education.