20160924-img_0551_stdHere’s the idea in a nutshell. Revise the valuation schedule for the MVET, per HB 2201, so that the ST3 MVET (0.8%) is levied on the more accurate 2006 schedule. Pay for it by extending the Sound Move MVET (0.3%) that is otherwise scheduled to expire in 2028. The extended 0.3% MVET can use the 2006 vehicle schedule too, and can be set to expire once the funding gap is made whole. Sound Transit’s ability to deliver voter-approved projects on time will not be impaired. Car owners will see an immediate tax cut, offset only by a delay in the expiration of the Sound Move MVET after 2028.

via Seattle Transit Blog

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