Both sides debate Washington’s Initiative 1033

Wed, Oct 21 2009 — Source: Port Townsend Leader

Even if you don’t spend much time at the Courthouse or City Hall, it’s hard to escape the debate over Initiative 1033, Tim Eyman’s tax-cutting proposal on the Nov. 3 ballot. If passed, it would place new limits on the growth of “general fund” revenues received by state, city and county governments. A complicated formula directs how the initiative would work, but basically, it provides that if various revenues to governments rise because of an improving economy, governments will be required to reduce that income or use the overage to reduce the property tax levy.