Time to take another look at “property tax swap” to boost school spending?

In my column today, I suggest lawmakers take another look at the property tax swap proposed last year. A couple of issues prompted the suggestion.

From the column:

The swap had bipartisan origins, with Rep. Ross Hunter (D-Medina) and then-Sen. Joe Zarelli (R-Ridgefield) concluding that raising the state property tax while resetting local levies could significantly boost state aid and satisfy the demand for “regular and dependable” revenues.

…The issue is politically sensitive. Property taxes in Washington are comparatively low, but still unpopular. How much new money would go to education depends on how much levy capacity is transferred to the state and where the local levy is reset.

It’s complicated, which means it’s difficult. But it still looks like lawmakers’ best vehicle for satisfying McCleary.

More background on the swap here, here and here.

Your thoughts?