In all, the cost shifts would create only marginal tax increases for typical homeowners, assessors say, because the extra burden would be shared by a large pool of taxpayers. It's not just homeowners who would feel the hurt, according to the Association of Washington Business. Owners of commercial and industrial land would see cost shifts because such property typically appreciates slower than other property. Benham only partly disagrees with critics' conclusions. He acknowledges his plan would create inequalities.
Exemptions also provide a public good.
Besides, Benham said, the initiative would make those waterfront homes more affordable for others. Benham does contest assessors' notions that taxes will increase for typical homeowners and the poor. He accuses public officials of simply trying to scare voters into rejecting the initiative. They are misinformed. They do not understand the initiative.