Benton posts special
session petition to reenact I-747 on his Web site
November 14, 2007
OLYMPIA…Sen.
Don Benton, R-Vancouver, has circulated a petition to all
legislators to sign in support of utilizing a provision in the
constitution for legislators to call themselves into special
session. The special session will take place for the purpose of
passing the 1 percent limit on property taxes when they are in
town for committee meetings Nov. 28-30.
Benton has posted the
petition on
his Web site. The petition was sent to legislators yesterday. The list of
those who sign the petition will be updated regularly.
On a live radio interview this
morning, Benton said talk of other property tax relief measures
can wait until January, but saving the I-747 1 percent limit
must happen now.
“First we have to pass a 1 percent
limit on property tax collections,” Benton said. “We can use my
bill, SB 5001, and add an amendment to deal with banked
capacity. We could do it all, paperwork included, in a couple of
hours – at no cost to taxpayers because legislators will already
be in town.”
Banked capacity means local taxing
districts have had the 6 percent taxing authority all along, and
they can now tap it. It is estimated that the I-747 cap has
saved property owners $1.6 billion.
“The point is, we have to
act before Nov. 30 to reinstate the 1 percent limit and forbid
the use of bank capacity before local governments pass their
spending and tax plans for 2008.
“Then come January,” Benton said,
“the Legislature should look at other ways to keep people from
being taxed out of their homes. I already have a proposed
constitutional amendment before the Legislature that would
freeze property values and limit reassessments to 1 percent
annually.”
Helping people stay in their
homes by controlling huge spikes in property values that
dramatically increase taxes is not a new issue for Benton. He
has tried to force the Legislature to act for many years. He
introduced legislation to control valuations in 1996, 1997,
1998, 1999, 2000, 2001, 2003 and 2004.
“Even under
I-747,” Benton added, “property tax collections have gone up an
average of 5 percent statewide and some homeowners’ taxes have
jumped much higher because of big leaps in property
valuations.”
I-747 does
not impact new construction, voter-approved levies, or home
valuations.
“Another
critical issue in play is the subprime lending crisis.” Benton
said. “If you add higher property taxes to higher interest
rates, you are going to see hundreds, maybe thousands of
families lose their homes, no question about it. It will be
devastating to many homeowners if we drag our feet and let local
governments collect their banked capacity.
“I don’t see
how the Legislature cannot act before Nov. 30,” Benton said. “It
would be unconscionable in my mind. We have the opportunity to
act, the time to act and the meeting is already set. All we need
is the will to act!”
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Additional contact Penny Drost at (360) 786-7522
or
drost.penny@leg.wa.gov
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