Looming taxes continue to burden property owners
In the City Council’s committee meeting on Oct. 23 Melisa Files, director of finance, reported:
1) Revenues were up by 5 percent of target and
2) Expenditures were 4 percent below target
So “we are in a nice place to be” says Ms. Files.
Yes we are, many thanks to the “surge in permitting fees” from development and a “one-time construction tax,” according to Files.
Historically, the city has assessed property owners the state’s maximum allowable 1 percent property tax. But times have changed and the city is swimming in revenue like never before from the massive development of our downtown and Overlake urban centers.
Owing to this unprecedented growth the city of Redmond should change their practices and forgo the 1 percent property tax this year. Residents are already burdened by looming school district taxes and an April King County Public Hospital District 2 tax initiative, among other taxes.
It’s time the city tightens their belt.