Property tax reform in Washington is gradually becoming the hot debate in Washington as municipal governments, local governments and education board are raising funds to support the programs they undertake. The issue of tax reform is not a fresh new breeze in the political atmosphere of US. Back in 2004, a legislative convention was set to revise the tax structure. Unfortunately, the agreement of the convention was eventually not realized.
As the issue of tax reform is gaining momentum, two basic areas of concern are appearing on the surface. First, he need to raise local property taxes and the net is the inability of government to include annual increase of 6 to 7 %. This is a perfect time to assemble a convention that can revive the tax structure on local property afresh. However, such conventions might not be able to meet the desired results because of institutional backbiting.
The political conflicts within US are resisting even the prominent political figure to comment in favor of restructuring tax system. Assemblyman Lou Greenwald, the chairman of the Assembly Budget Committee refused to give his feedback about the US tax reform revision recently. He fears that his statement might raise backlash among political groups who argue that tax restructuring is synonymous to raising taxes. However, there are people within the political framework of US who feel that restructuring of property taxes could ultimately be beneficial to the economy.
Earning vote banks to become the leaders in US government is common among the political groups. And Tax cut campaigns had been a sure win strategy for gubernatorial for several years. But government has always faced the paralytic progress in their administration because of financial pressure.
Governor Chis Chistie has taken a great stride in the blazing issue of tax restructuring and has gather approval to increase taxes by 2 caps. He has also advocated the need to increase employee contribution of public sector in terms of health insurance and pension cost. Other areas like expanding the share of service agreements in municipal government, privatizing some of the government functions are also viewed as means to ease budget pressure on government.
The consideration of tax restructuring is not only required to levy taxes, there are other issues with the tax system that needs to be addresses. Disparity of property value among different regions is one more hindrance in attaining a fair tax system since it disrupts the assessment severely. There are mixed views with in the nation which says tat tax restructuring in terms of cuts or rises cannot along tackle the present scenario.
The story of tax reform after so much of revelations within the political world of US makes us think how bused the views are. As most eminent figures in the assembly are attempting to keep off from the issue of tax revision, concluding at a concrete agreement seems far away.