Senator James Rhoades lays it on the line with the Property Tax Elimination Bill. He is requesting a referendum on the November 2008 ballot that would eliminate property taxes and increase the sales tax and personal income tax to offset about 96% of the $9 billion property taxes bring in.
You can read his press release at his web site.
His legislation will increase the sales tax from 6% to 9.19% and the personal income tax from 3.07% to 4.36%.
He says the funding to school districts would require the local school boards to REDUCE or eliminate school property taxes dollar for dollar.
Rhoades has some good ideas, but if property taxes are not eliminated, there is no reason for this legislation to go any further and waste the time of the legislatures. This is no different than the tax shifting schemes of the past.