Proposed Property Tax Cut Would Have Uneven Impact in Seattle Area.

Byline: Keith Ervin

Feb. 19--King County's two largest taxing jurisdictions -- Seattle and the county itself -- are likely to weather Tim Eyman's latest proposed tax-cutting initiative without reductions in their general funds, but the budgets of some other jurisdictions could drop by 25 percent.

Among the funds at risk are the King County road fund, the county library district's, fire districts' and those of 34 of 39 cities.

The initiative to the people would roll back some, but not all, local property-tax levies by 25 percent. The Department of Revenue told county assessors last week that a citizen vote to raise the amount of a regular levy -- to lift the lid -- protects the entire levy from being reduced by the initiative, including the portion not approved by voters.

While Eyman is gearing up his signature-gathering machinery in an effort to put Initiative 864 on the November ballot, state and local officials are …