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Mayor Harding reported in his monthly NVN column on October 17th:
“As tax revenue drops, so does the ability to provide those needed services.

I am most proud that we looked toward the future, planned ahead, and built strategic cash reserves.
We can weather a downturn in the economy and continue to provide vital city services.”

One certainly hopes that what the Mayor says is true about the city’s cash reserves. However, he is right;
“As tax revenue drops, so does the ability to provide those needed services.”

Yelm’s Wal-Mart, KFC/Taco Bell, Starbucks & Pizza Hut are providing the major sales tax increases year-over-year for Yelm. Property & permit taxes are all way down and the County has lowered the property values, which will impact 2009 property tax receipts. This will all impact Yelm’s coffers.

Here are some stories that impact our county:

The Thurston County Food Bank is spending record amounts to keep up with demand as the economy sours.
From The Olympian

Hard times have some flirting with survivalism
Economic angst has Americans stockpiling ‘beans, bullets and Band-Aids

Survivalists hunker down

Home prices fall by sharpest annual rate ever
Standard & Poors/Case-Shiller price index off by record 16.6 percent
From the AP

First-Ever Layoffs Loom at Postal Service
From Labor Notes

Economic downturn may be picking up speed
Latest data show rising job losses, sharp pullback by consumers

Thurston County residents face tax increase
Board votes to fund programs for mental health, addiction
From The Olympian

Posted by Steve on November 4, 2008 at 5:30 am | Permalink

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