Senate Bill 6606, introduced last week by Senator Marko Liias, is the latest effort in the Legislature to resolve the three years old controversy over the MVET valuation schedule. The bill would potentially reduce Sound Transit tax revenues by just over $1 billion over the next 20 years. The MVET valuation schedule has been a …
On Friday, Sen. Patty Kuderer (D – Clyde Hill) submitted a bill that would offer a motor vehicle excise tax (MVET, or “car tab”) market-value adjustment to low-income car owners, for the portion of their car tabs going to Sound Transit. Senate Bill 5075 would offer a discount based on the difference between the MVET …
Continue reading “Kuderer Proposes Low-Income MVET Discount”
Last night, the Senate approved SB 5955, changing the valuation schedule for the ST3 MVET (Motor Vehicle Excise Tax). Up to two-thirds of the cost is remedied by reducing payments from Sound Transit to the Puget Sound Accountability Fund. The vote was 30 yeas, 14 nays, with 5 members excused. The bill now moves to the …
In a 60 to 37 vote Wednesday, the Washington House of Representatives once again passed legislation to lower car tab fees, reducing funding for Sound Transit. The bill adjusts the rate of the motor vehicle excise tax (MVET) Sound Transit collects. ST3 uses an MVET schedule from the 1990s, which critics say inflates the value …
While many in the State House have been in a rush to assuage car drivers angry at being taxed more, and trample on Sound Transit’s ability to build the ST3 capital program, one Republican representative has offered a bill that uses some of the lenses we’d expect from Democrats to craft a more economically-progressive twist …
Continue reading “Republican Representative Proposes a More Progressive MVET Restructure”
Here’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 …
Democratic legislators are reexamining legislation that would lower car tab fees, reducing funding for Sound Transit and potentially delaying the expansion of light rail around the region. According to the News Tribune, State Sen. Marko Liias, (D-Lynnwood) said the party is looking at a range of ways to lower car tab fees, but also limit …
As East Link construction ramps up, Overlake P&R will close May 1. Still no firm date for South Bellevue. As fuel prices stay low and regulation rollbacks promised, Americans are again falling in love with SUVs. Eugene is seeking $30 in lottery-backed bonds to build a new EmX Bus Rapid Transit Line. Anchorage revamps its …
Last night, the Washington House of Representatives approved HB 2201. The bill effectively resets the valuation schedule for the 0.8% ST3 portion of the MVET to the lower of the 1999 and 2006 schedules. The outcome is lower taxes for owners of cars less than 10 years old, and a refund for those who have …
As ST3’s Motor Vehicle Excise Tax (MVET) drama continues, yesterday the House Transportation Committee passed HB 2201 by a bipartisan 20-5 vote. The compromise bill would require Sound Transit to use the newer 2006 vehicle depreciation schedule, and to offer credits and refunds to those who had already paid under the old one. In addition, …
Continue reading “House Committee Passes Bipartisan MVET Bill”
The media are full of stories of people mad about car tabs. Even though voters just approved them, and ST is applying them in accordance with existing law, there is no shortage of people that never wanted to pay higher taxes for transit in the first place. Olympia is anxious to respond, partly because their electorate is considerably more …
Continue reading “ST Produces Initial Estimates of MVET Hit”
Yesterday, Senate Transportation Committee Chair Curtis King unveiled his own transportation proposal to compete with the bill that’s currently being tossed around in the House. The House bill, HB 1954, would allow King County to raise a 1.5% MVET– 60% for Metro, 40% for roads– but only by voter approval. The gripe of many on …
Continue reading “Curtis King Wants Sales Tax for Transit, Not MVETs”
Early versions of ESB 6882 6582 authorized a 1% Motor Vehicle Excise Tax (MVET) for counties to address their transportation needs. It was unclear at the time how this authority was to be shared between County road departments and transit agencies. A full 1% would not only have solved Metro’s long-term deficit, but also would have …
Continue reading “MVET Bill Develops; SR 99 Corridor Screwed Again”
The 0.3% MVET that Sound Transit collects when registering vehicle tabs was accidentally collected for those living just outside of the Sound Transit district, the P-I reports: More than $3 million in Sound Transit motor-vehicle excise taxes was wrongly collected from about 95,000 vehicle owners who lived outside the agency’s taxing district due to shortcomings …
Continue reading “Sound Move MVET Charged Outside of ST District”
The 2022 legislative session is starting off with a bang this week. Before the first week is done Senate Bill 5528 will have a hearing in the transportation committee. The bill picks up where last year’s HB 1304 left off but expands the function to a regional level under the governance of Sound Transit. A city, subarea, …
Continue reading “SB 5528 Gives Transit Power Back to Voters”
The double crisis of the COVID-19 pandemic and the West Seattle Bridge’s closure has left tens of thousands of people stuck in commuting limbo. As demand for commuter capacity begins rising again, Metro is preparing several scenarios based on bridge availability, bus capacity, and funding impacts related to the pandemic. The West Seattle Bridge Closure …
Continue reading “Metro draws up service scenarios for West Seattle”
Over the lifetime of the ST3 program, Sound Transit now expects a revenue shortfall on the order of $8-12 billion. Without adjusting expenditures, the agency will run out of available debt capacity by 2028. On Wednesday afternoon, a Board workshop learned more about the depth of the financial crisis and began to review options for …
Continue reading “Sound Transit faces $8-12 billion revenue shortfall”
Yesterday, the Washington State Supreme Court agreed to hear a challenge by King County and others to I-976, the initiative approved by statewide voters last November to remove car tabs. Yesterday’s decision fast-forwards the case so it moves directly from King County Superior Court to the Supreme Court without a transfer to the Court of …
Yesterday’s Sound Transit Board meeting saw first steps toward the realignment of ST3 projects that now appears inevitable. In a preview of discussions to come, the meeting featured unusually intense questioning of spending on Sounder fleet procurement and parking garages in Auburn, though both moved forward. Chairman Keel set the tone: No project and no …
Continue reading “Sound Transit Board sharpens pencils for ST3 program savings”
Local transit agencies are facing financial challenges as revenues from fares and sales taxes decline precipitously. Federal aid has mitigated the most immediate operational impacts, but the affordability of the ST3 expansion plan is now in question. Sound Transit on Thursday signaled it was looking at a re-prioritization of planned capital projects. Decisions on delays …
Continue reading “Sound Transit considers ST3 delays as financial outlook worsens”