“In Olympia, the sea of red ink is reaching drowning depth. Washington states chief economist today Nov. 19] subtracted another three-quarters of a billion dollars from the state checkbook. The updated revenue forecast widens Washington states budget deficit to more than two and a half billion dollars.

The good news according to chief economist Arun Raha is that Washingtons economy is finally recovering. The bad news is that state revenue is not. Raha told state lawmakers to forget about receiving $760 million in anticipated sales taxes, business taxes, and other revenue. The forecaster says consumers are simply not spending…

Washington Governor Chris Gregoire and some top Democratic legislators say they’re open to tax hikes to fill the growing budget hole. Republicans warn against that. Gregoire will take the first run at rebalancing the state budget next month,” quoting Northwest News Network.

The City of Yelm is holding a Public Hearing this Tuesday at the City Council Meeting at 7pm for
“Revenue Sources and Setting Property Taxes for 2010”

HMMM!

Ed. Note: With the State’s declining revenue, you can expect the City of Yelm is seeing declining revenues too, in everything from lack of new building permits, lower home sales taxes due to slow home sales, lower retail receipts & having to support huge expenses in legal bills for the city’s water unapproved Draft Water System Plan & deciding to acquire a citizen’s Water Rights through eminent domain, all amongst other decisions of the city that are coming home to roost.
The City of Yelm property owner & tax payer should be wary AND aware…