成人X站

MYNORTHWEST NEWS

Sound Transit CFO’s explanation confuses car-tab issue even more

Mar 9, 2017, 5:01 AM | Updated: 12:17 pm

car-tab fees, Sound Transit...

The reasoning behind Sound Transit's formula for calculating car-tab fees is being questioned by voters and lawmakers alike. (Sound Transit)

(Sound Transit)

If you thought Sound Transit’s reasoning for not changing how it calculates car-tab fees was confusing, then what the agency’s chief financial officer told lawmakers recently won’t help.

Senator: I鈥檒l be in a nursing home before I see the benefits of ST3

But first, a little background.

After voters across King, Pierce, and Snohomish counties approved a new tax package in November to fund light rail expansion throughout the region, car-tab fees for those within the taxing district increased. Car owners began seeing higher car tab fees related to the Sound Transit tax this month.

Voters who paid attention to their ballot probably weren’t as surprised by the higher fees than those who didn’t. But even those who were in the know may not have expected just how much their tabs would cost. That’s because the agency uses an outdated method of determining a vehicle’s value.

So a tax increase of eight-tenths of 1 percent turned out to cost car owners a bit more than they expected.

Sound Transit CFO Brian McCartan told lawmakers in Olympia that the agency鈥檚 hands are tied. It must use the old car tab valuation until the original bonds 鈥 the ones issued in 1999 鈥 are paid off.

成人X站 Radio’s Chris Sullivan pointed out that Sound Transit actually had a chance to use a more “driver-friendly” depreciation schedule when it drew up for the November ballot.

And this is why McCartan says the agency opted out:

In case you didn’t catch that, here’s a transcription:

鈥淚t was seen as clean or simple, or to be able to have a single evaluation schedule that was used, and because the prior schedule is required to be used that was the way the statute was written 鈥 was that the ST3 collections would use the schedule that was in place at the time that the bonds were issued,鈥 he said.

If that is how the agency is justifying its decision to charge people more, then it should come as no surprise that lawmakers are responding with their own legislation.

Senate Bill and House Bill would require Sound Transit to use Kelley Blue Book or the National Automobile Dealers Association values when they calculate vehicle excise tax.

It also shouldn’t come as a surprise that a bill, which would require that Sound Transit Board members are elected instead of selected, ; or that lawmakers proposed a bill that would allow cities and counties to remove themselves from the agency’s taxing district.

Of course, the efforts to change how car-tab fees are calculated face an uphill battle in a Democratic-controlled state House. Democratic chairperson of the House Transportation Committee Judy Clibborn may have put it best.

“I’m not sure you can do that legally, but we’ll find out,” she said.

MyNorthwest News

Titan...

Associated Press

Titan sub disaster was caused by weak safety and oversight, Coast Guard says

The Coast Guard said the Titan sub disaster was caused by weak safety and oversight.

14 minutes ago

Photo: With nine days until the election, Washington ballot returns are coming in at a slower pace ...

成人X站 Newsradio staff

It’s primary election day 鈥 here’s what you need to know

Primary election results will be released on August 5.

53 minutes ago

Alaska Airlines flights Iceland London...

MyNorthwest Staff

Alaska Airlines adds nonstop flights from Sea-Tac to Iceland and London

Seattleites will soon have more options for international travel, with Alaska Airlines announcing a major expansion of its long-haul routes, according to 成人X站 7.

1 hour ago

Starbucks close pick-up stores...

MyNorthwest Staff

Starbucks ending pick-up store format, up to 5 closures expected in Seattle

Starbucks plans to eliminate its mobile-order-only Pick Up store concept by 2026, a move that could impact up to five locations in the Seattle area.

2 hours ago

WA wine sales decline...

Jason Sutich

WA wineries hit by 18% sales decline over past 3 years

Wine sales in Washington have recorded a substantial drop in recent years, down more than 18% since 2021, according to the Puget Sound Business Journal.

2 hours ago

Buffalo herd US 12 closed...

Jason Sutich

Buffalo herd closes both directions of US 12 in Elma

A herd of buffalo blocked both directions of the highway on US 12 in Elma at 6:40 a.m. on Tuesday, the Washington State Department of Transportation confirmed.

4 hours ago

Sound Transit CFO’s explanation confuses car-tab issue even more