KIRO 7 story looks at fix for 2017/18 budget deficit
King County is facing a $50 million budget deficit in 2017/18, and KIRO 7 News spoke recently to Budget Director Dwight Dively about a small fix that would have a big impact for the County’s ability to provide services.
Below is an excerpt from the story:
According to Dively, a 3.7 percent increase would help the county provide necessary services for its increasing population. At the current 1 percent rate, Dively explained, the county is in the red.
“If we were able to keep up with inflation and population growth with our property tax revenue, we would not have a budget problem, and in fact we would be able to add services.”
Any increase in property taxes would come from the pockets of taxpayers. However, Dively claimed a little would go a long way. According to the budget director, the owner of a $450,000 home could expect to spend an additional $10 a year if property tax revenues for counties were allowed to be raised from the current 1 percent mandatory cap to about 3.7 percent.
Watch or read the full story here.