Pellicciotti’s bill, HB2201, would reimburse taxpayers the difference between 2006 and 1996 MVET car valuations. Sound Transit currently uses the 1996 MVET but the 2006 MVET follows the Kelly Blue Book market value averages. While the car-tab formula has been inflated for a while, the new Sound Transit 3 tax led to an almost fourfold increase.
Pellicciotti’s bill would return approximately $780 million to taxpayers over the next decade.
“It’s time for the legislature to act, so taxpayers are only paying ST3 taxes on the most current and accurate market value of their car,” said Pellicciotti in a press release. “My bill will make sure that voters are not overcharged and that voter-approved light-rail projects still stay on track.”
The bill passed the House Transportation Committee yesterday with a 20-5 vote.
Members who voted against the bill were Dave Hayes (R-Camano Island), Liz Pike (R-Camas), Matt Shea (R-Spokane), Luanne Van Werven (R-Lynden), and Jesse Young (R-Gig Harbor).