City Budget and Tacoma Taxes
Tacoma’s City Government needs to come to terms with the fact that they have been penalizing Tacoma tax payers for the city’s lack of planning and responsible budgeting.
Oftentimes, as happened in 2022, Council Members have put forth legislation that raises operating costs for businesses. They raised the Business License Fees on 90% of Tacoma businesses. This was to add $10M to the General Fund. Yes, a city needs funds in order to operate, I get that. But this increase came at a time when businesses of all shapes and sizes were struggling to survive.
Tacoma’s Sales Tax Rate is a whopping 10.3%, second only to Seattle’s Sale Tax Rate of 10.35%. That’s the highest rate anywhere in America.
The median property tax rate in Tacoma, WA is 1.03%, which is considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $428,400 in Tacoma, the typical annual property tax bill reaches $4,442, significantly exceeding the national median of $2,690. (Source: Ownwell)
The cost of living in Tacoma, WA is 8% higher than the state average and 26% higher than the national average. (Source: Rent Cafe)
Tacoma's cost of living is 11% more expensive than the U.S. average.
I list all of this to show a pattern. City Government should work for the citizens of Tacoma. Yes, funding has got to come from somewhere which is why we have taxes in the first place. But what are we paying for? Funding for necessities or are we funding careless spending. In my opinion, it’s the latter.
City Government has a responsibility to be fiscally responsible with their budgets. In order for Tacoma to be successful, the Powers That Be need to spend wisely and work towards reducing taxes. Not penalizing its citizens for living here.
We need to treat our finances with care and as if we are in crisis mode. Which, in many ways, we are a city in crisis. For me, I see a Mayor and a Council who behaves as if all is well and good. When in reality, there are major concerns with Tacoma that are going unaddressed. Meanwhile, spending is out of control and taxes continue to rise.
As Mayor, I want to reign in the spending, focus on our shortcomings and tighten the buckle on our budgets. To do that, we are going to need to rely on financial experts. The work of the Mayor, City Council and City Manager is to streamline all facets of the business of the city. I do not feel that is being done and from the feedback of voters over the past few years, I am not alone in my opinion.
Of course, I do not have all the answers. What I do have is a drive to get questions answered and to move Tacoma forward, building a city that we can all be proud of and sleep easy knowing that we are all headed in the right direction, together.