The Yes on Prop 8 people asked if they could share their thoughts on that ballot measure with the Midnight Sun audience. As an opinion based blog we are always happy to share different perspectives from the political community so we are happy to oblige.
If anyone from the other side of this issue or any issue, or any of the candidates for that matter, want to pen something unique for us to share, we will post it as well.
Here are Bob Griffin’s thoughts on Prop 8:
Yes on 8
The new Tax Cap loophole, created by the Assembly in 2015, (that Yes on Prop 8 would close) essentially guts the intent of the Tax Cap that has worked so well to control the growth of local government since 1983.
The claim that Yes on Proposition 8 wouldn’t allow the city the “flexibility” to reduce taxes rings pretty hollow. The individuals that are promoting that idea, fail to mention that after any one-time “tax cut” under the new Tax Cap loophole, the city could jack-up property taxes the following year, much faster than the rate of inflation and population growth.
According to Muni OMB data, if this new Tax Cap loophole had been in place since 2008, the city could be collecting $142 Million/year more today in property taxes and still claim to be “under” Tax Cap by millions of dollars each year. Under this scenario, the individual impact on property taxpayers would mean a family in a $300,000 home would be paying$1,217.10/year MORE in property taxes,than they actually are today.
In the unlikely event that state revenue sharing restarts anytime soon, or the city is blessed with some other similar one-time windfall — those one-time revenues should be used for one-time expenditures like reducing debt, buying new police or fire equipment, replenishing depleted savings, etc. That would lower future taxes more effectively than any one-time smoke-and-mirrors “tax cut”.
With the prospect of new state income and/or sales taxes on the horizon, can we really endure a Tax Cap loophole that would have allowed property taxes to increase up to 50% MORE than they are today?