227 Opposing Initiative 559CITY OF YELM
RESOLUTION N0. 22?
A FtL'SOLU7'ION OPPOSING INITIATIVE 559 WHICH WOULD PLACE NEW LIMITATIONS
ON PROPER"I'Y TAX ASSESSMENTS WITIiIN THE STA"I'E OF WASHINGTON.
WHE1tEAS, Initiative 559 on the November ballot will ask voters,
"Shall property value for tax purposes be the January 1, 19ti5 value or
subsequent sale price, adjusted for cost of living changes?", and,
WHEItEAS, according to the Washington Research Council the
passage of Initiative 559 would threaten the state oP Washington's
sound property tax system which ranks high in both tax unii'ormity and
equity; and,
WHEREAS, property taxes in the state of Washington are not our
of linr. with other states in that Washington ranks 28th in state and
local property tax burden both as a share of the economy and pE•r
person, and the property Lax burden has consistently been below the
national average over the last decade; and,
WHER1r'AS, the state of Washington already has other property tax
limitations in place; and,
WHEREAS, compliance with the formula created by initiative 559
would place a heavy burden on County Assessors; and,
WHEREAS, Initiative 559 would create tax shifting and inequrtrcrs
between long-term home owners and more recent purchasr.rs c,f property;
now, therefore,
BE 1T RESOLVED, that the City Council of the City of Yelm
strongly opposes Initiative 559 and encourages voters to reject
Initiative 559 during the general election this fall.
ADOP"fED by the City Council of the City of Yelm at a ri-gular
meeting held on the 23rd day oP October. 1991.
DATED thrs 23rd day of October. 1991.
Mayor, Cr y o
AT"f EST
A..~
City Clerk
PASSED AND APYItOVED: October 23, 1991
PUbLISIiED: Nrsqually Valley News, October 31, 1991