Here’s another update for you on local municipalities spending the increased tax revenues from the real estate boom. This time Snohomish County reports in, with a stellar plan to pre-spend expected revenue gains from real estate excise taxes:
Snohomish County will begin identifying renovation projects at the Evergreen State Fairgrounds thanks to an expected increase in real-estate excise taxes collected from home sales.
The County Council unanimously has approved about $400,000 in the 2006 budget to begin improvements at the Monroe-area fairgrounds, which initially were constructed in the mid-1940s.
If you don’t see anything wrong with this plan, then I would surmise that you might be a politician.
(Christopher Schwarzen, Seattle Times, 11.30.2005)