The Stranger Explains the "Property Tax Swap"
I have been desperate to get a thread on this issue because both McKenna and Inslee have been talking about it (along with Rep Carlyle and Rep Hunter) but pulling it altogether was going to be a task. Enter Goldy with a good article (and a chart!). It pretty much completes what I thought - Seattle and other "wealthier" districts would get less.
My understanding of the property tax swap is that it would phase out levy equalization and yet, wealthier districts would STILL be subsidizing poorer ones. I am all for equity but when every single district in this state is cash-strapped, it seems unfair.
Read on and tell me your thoughts.
The Property Tax Swap (or "State & Local Property Tax Shift" as it is more technically known) is also the only
My understanding of the property tax swap is that it would phase out levy equalization and yet, wealthier districts would STILL be subsidizing poorer ones. I am all for equity but when every single district in this state is cash-strapped, it seems unfair.
Read on and tell me your thoughts.
The Property Tax Swap (or "State & Local Property Tax Shift" as it is more technically known) is also the only