October 22nd, 2003

Update on Eyman's Property Tax Cut Initiatives

Eyman has filed numerous draft property tax cut initiatives with the Secretary of State this year.

Contact: Steve Zemke

206-999-6095

stevezemke (at) msn (dot) com

Seattle, WA— Eyman & the Fagans' proposed 25% Property Tax Cut Initiatives.

A number of draft initiative proposals have been filed by Eyman as initiatives to the legislature. As you read through the ballot titles and summaries you will see that they range from a 25% cut in state property tax to a 25% cut in local property taxes. Eyman’s intent is to file at least one of these as an initiative to the people next January with the goal of putting it on the November 2004 ballot.

All state property taxes are dedicated for K-12 education.

According to the Superintendent of Public Instruction’s office a 25% cut in state property taxes would remove some $800,000,000 per biennium from K-12 education. We have not yet gotten a figure for the impact of a 25% cut on local property taxes.

Below are the new totals on Eyman's money. He has raised in Sept. an additional $12,000 for the "Help Us Help Taxpayers" PAC

Help Us Help Taxpayers

previous $33,430.20

new (Sept 2003) $12,141.42

Total received $45,571.62

Balance after expenses $43,665.73

Voters Want More Choices (purpose changed to "limit property taxes")

previous (mostly tranfer of unspent I-807 money) $29,151.57

new cash (Sept 2003) 80.73

total $29,232.60

expenditures $5,803.97

obligations $1,905.89

Balance after expenses $21,522.74

So Eyman & Company basically have some $65,188.47 in hand as of Oct 1st, 2003.

The full texts of the initiatives below and any future drafts can be found at the Secretary of State’s website at

http://www.secstate.wa.gov/elections/initiatives/legislature.aspx

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