Tuesday, January 30, 2007

Property Tax Cap: Back from the Dead?

Since a Washington court found part of the state's property-tax limit scheme unconstitutional last year, there's been some hope that lawmakers seeking to provide property tax breaks for fixed-income families will settle on a solution that's actually geared towards low-income homeowners and renters. No such luck, according to the Seattle Post-Intelligencer:
Democratic lawmakers proposed a constitutional amendment Friday to limit state property tax assessments to annual growth of 1 percent.The proposal, by Rep. Dawn Morrell, D-Puyallup, and 13 co-sponsors, would apply to the state portion of the property tax, not locally imposed taxes. The state share typically amounts to about a quarter of a homeowner's tax bill.
For more on why assessed value caps are a bad approach to property tax reform, check out this ITEP policy brief.

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