The House Democrat State Rep. that holds the biggest influence on reducing car tab taxes for Sound Transit's $54 billion phase known as ST3 indicated a tax cut for car owners will require action from the Sound Transit Board. Mercer Island State Rep. Judy Clibborn tells KVI's John Carlson that she agrees with all the critics saying the car tab tax formulation for Sound Transit is too high and should be lowered. But Clibborn puts the brakes on any tax roll-back for Sound Transit's car tab tax calculation based on MSRP.
She says switching the car tab value calculation to the Kelly Blue Book (KBB) price (which is more reflective of what you could personally sell or trade your car for in today's marketplace) wouldn't work for the bond market which is underwriting the $54 billion ST3 phase to extend light rail to Tacoma, Redmond and Everett WA. Clibborn says "you can't bond against Blue Book because it's variable. It has to do with condition of car. I gather that bonding communities would not like that. "
Clibborn goes on to say that a legislative solution may be forthcoming but it would involve the Sound Transit Board taking action too. She didn't specify what action the Sound Transit Board could or should take.