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CITY OF YELM SETS TAX HIKE PUBLIC HEARING

Yelm is behind the 8-ball for poor planning of their 2009 budget, as covered here previously.
As the Mayor stated, his much-heralded era of growth to pay for expansion is over. Now that the city has spent so much for Master Planned Community developments, when the music stopped and the economy went “south”, the City of Yelm has been left “holding the bag” of debt & expenses, which are being passed to Yelm’s property & business owners.

Now, the City of Yelm is set to raise the the citys Utility Business and Occupation Tax on top of the recent water rate hike that stung local businesses [Click the hotlink to the left & see the High School’s water rate hike. YIKES!]. This city is no longer small-business friendly, thanks to their poor budget planning.

“The City of Yelm set a public hearing for comments on a hike in the citys Utility Business and Occupation Tax.

The increase is proposed in conjunction with the recently announced city layoffs, aimed to help balance city finances.

The tax would rise from 4 percent to 6 percent, the maximum increase the city can impose without voter approval.

When the city finance committee analyzed the finances, the Utility B&O Tax was identified as an untapped revenue source, said City Administrator Shelly Badger.

Most cities are at 6 percent, Badger said…

The tax rate change would increase city revenue by $219,268 annually.

Its not a huge impact to that individual customer, but looking at it city-wide it does make a difference, Badger said.

The increase will take effect 60 days after council approval.

When the finance committee was forecasting city finances they included the rate increases with the layoffs in their projections.

If council does not approve the rate increase, the city could face more potential layoffs and/or reduction of city services,” quoting the NVN.

Ed. Note: Of course the city Council is going to approve the rate increase. That is a slam dunk!

Keene, NH city council taking houses for unpaid property taxes.
From YouTube

Ed. Note: Will Yelm be next to do this due to their own lack of budget planning and with their growth to pay for expansion policies going bust with the developers leaving the town with the debt HMMM!]

Posted by Steve on August 11, 2009 at 9:04 am | Permalink

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