Edmonds voters to decide on $14.5 million property tax levy
EVERETT — A long-awaited Edmonds ballot measure will determine the city’s next steps in addressing its budget crisis.
Proponents say the property tax levy lid lift — Proposition 1 on the Nov. 4 ballot — is necessary to retain essential city services and move the city forward from its $13 million budget deficit. Opponents are concerned that rising property taxes will become too high for the city’s vulnerable residents.
The proposed levy is a permanent, multi-year levy lid lift. Per state law, cities can only increase property taxes by 1% or less each year, unless voters approve a higher increase.
A multi-year lid lift would allow the council to exceed the 1% cap for up to six years, or 2031. At the end of the six years, the levy could amount to about $17 million or $74 per month for the median household, council President Neil Tibbott said at a meeting in June.
https://www.heraldnet.com/news/edmonds-voters-to-decide-on-14-5-million-property-tax-levy/