Wash. property tax campaign moves toward fall ballot

OLYMPIA -- Professional initiative promoter Tim Eyman could move his latest campaign closer to the ballot if he hands over nearly 300,000 valid petition signatures to Washington state officials.

Eyman's latest is Initiative 1033. He's planning to turn in petitions today in Olympia.

I-1033 would put a yearly cap on money flowing into state, county and city general coffers. Any money over the cap would be used to lower property taxes in the following year.

Taxes approved by the voters would not be subject to the cap, which would be the rate of inflation plus population growth.

Opponents say Eyman's measure would hurt the government's ability to provide necessary public services, at a time when the economy is still in recession.