Local News

<< Previous   of   Next >>   ADVERTISEMENT   CONTACT THE HERALD Robert Frank, City Editor frank@heraldnet.com   Published: Tuesday, August 21, 2007 Everett sees windfall in revenue By David Chircop, Herald Writer EVERETT -- Balancing the city budget will be a little easier this year thanks to an unexpected upswing in construction and retail activity. "We're seeing sales taxes exceeding our expectations on many fronts," said Debra Bryant, Everett's chief financial officer. Everett is expected to collect $24.3 million in sales taxes this year, an increase of more than 20 percent over 2006 numbers. The sales tax is increasing as builders buy more materials in the city and more shops sell more goods. The uptick follows a year of near-stagnant growth in sales tax receipts between 2005 and 2006. Bryant said a broadened retail base and major construction projects are behind the windfall. City spending is also expected to grow considerably this year. Increased police protection, more legal defense for the poor, and the redevelopment of a tattered former industrial site are among a handful of expenses officials hope to tack to the 2007 budget. Three times a year, the city's finance office brings adjustments to the city budget before the City Council for final approval. The intent of the updates is to keep the budget balanced throughout the year, as expenses and revenues change. The city budget for 2007 is expected to reach $445.3 million when the City Council accepts an update on Sept. 5. If the change is approved, the city's budget will have increased by $43 million since the 2006 budget was adopted. Proposed additions to the 2007 budget: $550,823 for public defenders in Everett Municipal Court to represent people accused of crimes; $700,000 for consulting, legal and engineering costs on the riverfront redevelopment project. That's on top of $1 million already set aside this year; n $739,153 to help pay for 15 ect. That's on top of $1 million already set aside this year; n $739,153 to help pay for 15 new police officers, an attorney to provide legal support to the department and other police spending; and n $750,000 to renovate the fifth and sixth floors of City Hall. Of the 8.3 cents charged for every dollar spent on taxable goods in Everett, the city keeps 1.2 cents. It also takes one-tenth of 1 percent of gross revenues from licensed businesses. The city's largest single source of revenue is property tax, followed in order by sales tax, business and occupancy taxes and utility taxes. Grants, construction permits, a share of state revenue, fines and asset forfeitures are also funneled into the city treasury. Reporter David Chircop: 425-339-3429 or dchircop@heraldnet.com.

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