Friday, September 11, 2009
Judge rules for OFM in dispute with Eyman
Thurston County Superior Court Judge Richard Hicks has rejected Tim Eyman's legal challenge of I-1033's fiscal impact statement prepared by the Office of Financial Management (OFM). This means OFM's I-1033 analysis will be included without alteration in the voters' pamphlet. According to OFM, passage of Initiative 1033 would result in approximately $5.9 billion in state property tax rebates and $2.8 billion in local property tax rebates going to citizens by 2015. At the same time state and local revenue available for spending increases would grow each year by an amount based on population growth plus inflation. These tables (click link) show the year-by-year revenue growth, I-1033 fiscal growth factor and forecasted property tax rebates projected by OFM. Yesterday the Washington Research Council released its analysis of I-1033. Here is the Council's conclusion . . . READ MORE
1 comments:
As usual another Eyman initiative that is not clear in what it's actual impact will be. It is a misatke to try to write budgets by referendum. This is what I-1033 does.
It freezes all spending by state and local governemnts at this year's recession level spending. It prohibits state and local governments from restoring any lost services and jobs as the economy improves and more tax revenue becomes available. It says all public tax revenue above this year's spending limit must go to a private purpose - paying property taxes for property owners.
The problem is that while everyone pays sales taxes, not everyone owns property. Working families, seniors on fixed incomes and other that don't own property see no benefit. They both get no property tax rebate or see any restored public services.
Initiative 1033 is a reverse Robin Hood wealth transfer scheme. It taxes those less well off and give the taxes to rich property owners to pay their property taxes. Vote No on I-1033.
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