Relating to Ross Hunter’s Oct. 14 op-ed, “Small cities like Edmonds need levies to stay strong“: In the event you dwell in Edmonds, you must vote “no” on Proposition 1 within the basic election.
Proposition 1 asks for a multiyear, everlasting levy lid elevate of $14.5 million. If handed, Prop. 1, on prime of a rise already authorised by voters for the Regional Hearth Authority, would trigger property taxes that help metropolis companies, fireplace and EMS to almost triple. With inflation, Prop. 1 is projected to escalate to $17 million a yr by yr six, and that quantity turns into the brand new baseline for all future property tax will increase. Far past historic spending patterns, Prop. 1 would render Edmonds one of many highest property tax jurisdictions in Snohomish County just about in a single day.
Presently, the proprietor of an Edmonds dwelling definitely worth the common assessed worth of $928,600 pays about $930 for metropolis companies. In 2026, when the Regional Hearth Authority levy takes impact, that may rise to $1,828. Ought to Prop. 1 cross, the proprietor pays roughly $2,670.
As a result of most Edmonds households earn beneath town’s common family revenue ($167,694), Prop. 1 will have an effect on most residents and small companies.
Edmonds’ mayor and metropolis council handed a balanced finances for 2025-26 that included a $6 million property tax levy to deal with town’s finances shortfall, attributable to overspending and depletion of $18 million in reserves over two years. That $6 million levy has now grown to the $14.5 million property tax proposal with annual inflation escalation.
This isn’t inexpensive. Rising property valuation and inflation outpace earnings for all however the wealthiest Edmonds residents. This drastic tax improve will drive less-affluent householders out. Like many different communities up and down the West Coast, Edmonds will turn into inexpensive for a couple of.
As we’ve got seen in Seattle, investors are buying up homes at a tempo that defies nationwide actual property developments. Native builders covet single-family properties due to upzoning and the push to extend density. If this measure passes, a housing seize will ensue, pushing out low-, fixed- or middle-income residents. Extra condominiums will probably be constructed for the rich, not properties for all.
Opponents to Prop. 1 are annoyed with what we see as fiscal mismanagement. Edmonds was financially wholesome by way of 2021. From 2022 to 2024, our metropolis authorities repeatedly authorised spending regardless of the depletion of our basic fund. The council declared a fiscal emergency in November 2023 however continued to approve deficit spending into 2024 whereas failing to pursue financial growth that may have elevated tax revenues. Quite than do its work, the council has left the voters to resolve a few levy lid elevate.
The mayor and metropolis council ought to fund metropolis companies from current sources and create new income streams. Enterprise attraction applications and revolutionary financial growth initiatives might diversify our fiscal profile. Decided focus and devoted administration are required, quite than advertising ways that drive voters to save lots of the federal government from its personal fiscal mismanagement on the expense of their homeownership.
Though the overall fund is struggling, Edmonds has collected surplus in different funds that may very well be mixed legally with the overall fund. Edmonds is under no circumstances broke, having $70 million in investments and an in any other case wholesome stability sheet. Edmonds maintains a number of income streams: utility charges, actual property excise taxes, service charges and red-light digicam income. The web site keepedmondsaffordable.com contains another finances proposal, which the mayor and council have declined to debate. This proposal might restore Edmonds to monetary well being and shield less-affluent householders.
Proponents of a tax hike evaluate Edmonds to Redmond, Kirkland, Bothell and Issaquah. In contrast to these, Edmonds hosts no Large Tech or retail headquarters, nor main biotech industries, nor College of Washington satellite tv for pc campuses. Historically an older grownup neighborhood with extra inexpensive housing than the Eastside or King County, Edmonds is just like cities like Mukilteo in taxation and family earnings. When politicians misrepresent Edmonds, they imperil the residence of less-affluent members, and make our metropolis extra unique, much less vibrant and fewer various.
