skip navigation

News

skip sub navigation

Left Navigation

Education Funding Reform

Overview

Lower Property Taxes by 20-30%

  • Eliminate the State Property Tax levy
  • Lower the limit on total Local Regular Levies from 1% of assessed value to 0.7%
  • Limit local school levies to no more than 15% of state basic education allocation
  • Reset I-747 annual property tax growth cap to the lower of inflation or 3%

Lower the State Sales Tax rate from 6.5% to 5.5%

Lower B&O Taxes:

  • Lower services businesses from 1.5% to 1.0%
  • Set other businesses at Boeing’s B&O tax rate 0.29%
  • Small businesses credit B&O tax payments

Create a 5% Flat Tax on Personal Income:

  • Exempt $15,000/individual, $30,000/jointly
  • Plus a $5,000 per person exemption
  • Typical family of four would have a $50,000 exemption
  • Dedicate all income tax revenues to education: 75% for K-12; 25% for higher ed

Constitutional Requirement for a Super-Majority Vote on Taxes

  • Require a 60% majority vote of the Legislature to change major tax rates
  • Would cover income tax, sales tax, and B&O tax rates
  • Taxpayer protection through constitutional amendment