{"id":45,"date":"2005-09-12T09:39:00","date_gmt":"2005-09-12T16:39:00","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=45"},"modified":"2005-09-12T09:39:00","modified_gmt":"2005-09-12T16:39:00","slug":"snohomish-county-budget-balanced-on-home-sales","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2005\/09\/12\/snohomish-county-budget-balanced-on-home-sales\/","title":{"rendered":"Snohomish County Budget Balanced on Home Sales"},"content":{"rendered":"

Are local governments setting themselves up for budget troubles if\/when housing takes a downturn? That is to say, are they taking increased revenues from the high volume and high price of home sales and using them for regular operating expenses, rather than treating it as a surplus?<\/p>\n

More tax money is forecast to flow into Snohomish County coffers in 2006, but the county appears to be in a tight budget year anyway.
…
The county is riding a wave of higher-than-expected tax revenue collections, chiefly real estate excise taxes from high home sales prices and the number of homes sold. Those taxes are forecast to be $19.7 million by year’s end, up $5.6 million.<\/p><\/blockquote>\n

For Snohomish County it would appear that the answer is “yes.”<\/p>\n

(Jeff Switzer, Everett Herald<\/a>, 09.12.2005<\/i>)<\/p>\n

\n
Seattle Bubble Tip Jar<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Are local governments setting themselves up for budget troubles if\/when housing takes a downturn? That is to say, are they taking increased revenues from the high volume and high price of home sales and using them for regular operating expenses, rather than treating it as a surplus? 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