We have truth in lending and truth in packaging. It might be time for Truth in Taxes as we face more than $20 billion in new taxes on the ballot this November. They will be on top of another 12 special tax levies that we are already paying.
But do not expect Sound Transit to be championing that cause.
Most of the new taxes, if passed, will go to continuing the massive Sound Transit boondoggle. In 1996, the promise was that we would be riding on a 21-mile light rail system by 2006 if we approved a $5 billion dollar levy. Now $10 billion over-budget, Sound Transit has 14 miles of track under construction and none in use. Sound Transit's promises inflate at an even faster rate than its cost overruns. This year the promises include light rail to the Eastside for almost $18 billion. That means we will be spending double or triple that amount, given the organization's history. This one will boost property taxes and give us one of the highest sales tax rates in the nation, higher even than cities that actually have operating light rail systems.
You will not find any friends of Truth in Taxes at Seattle City Hall either. That club has fallen into the habit of promoting special levies to pay for on-going maintenance and repairs that should be coming out of the City's operating budget. They have done it on roads and parks and will be adding the Market to the list this year.
Levy promotions like "Save the Market" create the impression that destruction will follow should the voters not fall in line. We will be spending $75 million plus financing costs to keep up with electrical systems, heating and air-conditioning, elevators, restrooms, and other renovations, plus work on Steinbrueck Park.
Supporters of the Market tax and the $145 million dollar Park levy pretend that they do not create new taxes because the amount is only slightly higher than an expiring levy.
So, if we raise taxes for a short period and then make them long-term and only a little bit higher, are they no longer increases? While many of the projects may have merit, there seems to be little connection between where the City is planning population growth and where this tax package calls for buying park land.
These three new taxes will be on top of the levies we are already paying. That list includes Farm and Open Space at $50 million, Public Green Space, $118 million, Harborview Remodeling, $193 million, King County Parks at 10 cents per $1000 valuation, Fingerprint System at 5 cents per $1000, and Health and Human Services at 5 cents per $1000. Then, exclusive to Seattle, we have the Library levy at $196 million, Low Income Housing, $86 million in two levies, Fire Facilities, $167 million, Families and Education, $117 million, and Transportation at $365 million.
Each was sold with the line that it would only add a few dollars a month to our tax bill for just a few years. Just the three taxes proposed this year add over $400 to the tax bill for a $500,000 home. Renters can expect it to drive rent increases in the coming year when the building owners get the bill from the County Assessor.
And these levies are on top of an over $400 million increase to the City's regular budget of $3.5 billion being proposed this year.
It is not hard to tell who is spending other people's money and wants to keep the small print when it comes to the tax bill.[[In-content Ad]]
