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Politics Northwest

The Seattle Times political team explores national, state and local politics.

September 4, 2012 at 2:44 PM

Seattle revenue picture brightens

The City of Seattle will likely have to make fewer cuts to its 2013 budget because of stronger-than-expected tax revenues.

City Budget Director Beth Goldberg told the Seattle City Council Tuesday that $11.4 million in additional revenue is projected through 2014. The City had been anticipating a $32 million shortfall in each of 2013 and 2014.

Sales tax revenues are up, driven primarily by new apartment construction in the city. Real Estate Excise taxes and B&O taxes also are higher than anticipated, Goldberg said. The city also saw some one-time economic boosts this year. The city’s share of the sale of state liquor stores brought in $1.3 million. Passage of the Library Levy by voters in August and a renegotiated contract with city firefighters will also save money.

Mayor Mike McGinn will announce the details of the 2013-14 budget Sept. 24.

Comments | More in homepage, Politics Northwest, Seattle City Council | Topics: beth goldberg, seattle budget, seattle city council

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