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Tax Relief is Good; More Tax Relief is Better

Yesterday's Richmond Times-Dispatch contained a useful analysis of the hurdles faced by the tax-relief plans put forth by the two major candidates for Virginia governor. According to the newspaper, the candidates "will have to change a lot of minds if they hope to get their proposed constitutional amendments offering tax relief through future General Assemblies." The article notes a bill identical to Republican Jerry Kilgore's "proposal to limit property-tax-assessment increases to 5 percent a year was dismissed out of hand by the 2005 General Assembly" while a variation of Democrat Tim Kaine's "proposal to allow local government to grant a homestead exemption to homeowners fared better. It got out of committee and passed the House of Delegates, but it ran into a formidable obstacle: the Senate Finance Committee." The dueling tax-relief plans should make for vibrant political campaigns as we move to November. In the meantime, we urge taxpayers to evaluate both plans against the plan put forth by Virginians Over-Taxed on Residences (VOTORs).

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