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YELM PROPERTY OWNERS FACE PERFECT STORM BREWING FOR 2009

Own property & live in the Yelm area?

Here’s what is in-store for 2009 for you:

1. Yelm School’s Levy increase takes effect
2. Fire Levy
3. Your annual Library taxes
Plus:
Yelm Schools targeting classroom construction funding before 2012
Yelm Timberland Regional Library deficit funding levy
and a new library will have to be built to house the library in a public building.

all of this on top of economic news out this week:

Economy sailing into rougher waters
U.S. business economists see economy shrinking more

From MSNBC: click here

Mortgaging the future in desperate times
Despite big penalties, many are cashing in or borrowing against retirement

From MSNBC: click here

County proposes cuts, may need more
Work force would drop by 7 percent, but $1.2 million gap remains

From The Olympian: click here

Investors pay dearly to tap retirement funds
In addition to penalty, savers lose out on chance for more growth

From MSNBC: click here

Wholesale prices plunge by a record amount
Octobers one-month decline of 2.8 percent is the biggest on record

From MSNBC: click here

State shortfall likely to increase
Governor to readjust budget after job, revenue outlooks are released this week

From The Olympian: click here
[Ed. Note: What will happen to the unfunded Yelm Bypass?]

Holiday sales outlook looks flat
Economic slowdown worries some South Sound retailers

From The Olympian: click here

The Washington Policy Center held its Pierce County 2008 Small Business Issue Forum [Nov. 18] in Tacoma in partnership with the Tacoma-Pierce County Chamber.
“Michael Ennis, director of the WPC Center for Transportation, said his staff is watching two problems closely. The first is a projected $1.5 billion shortfall between gas-tax money collected for road improvement projects and the cost of those projects. In years past, the legislature has been able to make up the difference, but this year may be different. Ennis said lawmakers will either have to cancel several projects or fund them with money from the state’s general fund,” quoting the Pierce County Business Examiner.
[Ed. Note: Bypass funding in the 2009 Legislature appears in jeopardy. Expect Yelm’s traffic to continue to get worse, since no capacity has been added to Yelm’s main thoroughfare, only a turn lane to help with flow. There is still only one through lane in and one lane out and through town.]

Governor states State Government is challenged:
“Washington quarterly revenue projection down $1.9 billion”

From the State’s Office of Financial Management: click here

Venture posts largest loss ever
From The Olympian of Nov. 20th: click here

Home construction cannot move forward in five subdivisions [Tahoma Terra Phase II, Divisions 5 & 6; Windshadow I; Windshadow II; Wyndstone; and Berry Valley I] because of a court order outlining the city’s lack of water, so building permit fess, home sales taxes & owner property taxes from these projects will not be coming into city coffers, either.

YELM LEVIES RARELY PASS ON THE FIRST BALLOT.
HOW WILL THE PUBLIC VOTE IN 2009 ON MORE LEVIES & TAXES?

Posted by Steve on November 19, 2008 at 5:27 am | Permalink

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