If financial projections are correct what then?
- New taxes/Franchise fees
- Increasing existing taxes
- Combinations of the above
NEW.. would be a UTILITY TAX (Gas, Electric, Telephone, Cable TV)…up to 6%/mo.
NEW.. Franchise fee (Water, Sewer)…no upper limit (likely same as Utility Tax).
(Note: the Franchise fee is charged to the water district and passed by them to the consumer).
INCREASING..perhaps a B&O tax, increased Sales Tax, and a return to 1% increased Property Tax on an annual basis.
CUTBACKS..a survey of projects and Full Time Employees (attrition) would allow for cuts in most opportune areas.
DEBT..Bonds of various types and interest rates could be secured. These would call for annual payments of principal and interest.
COMBINATIONS..obvious multiple uses of the foregoing.
General: ST3 property tax, car-tab increase, and sales-tax increase will be enforced from this point forward for some three decades into the future.
HOMEWORK: By the time you read this third post you should already be asking yourself “what does this mean to me and what are my choices for the city to pursue”. Perhaps you have already contacted your representatives and are carrying on a dialog with them now. Sammamish is your city and your voice counts. The following link will take you to the current budet for the city. Get familiar with same. They show a picture full of questions. Thank you for doing your part in preparing for the future in Sammamish.
2017-2018 Budget in Brief:
Note: Finances are the topic Thursday night, 4/27/17 at City Hall, 5-7 PM. Be there.