Arrow-right Camera

The Spokesman-Review Newspaper The Spokesman-Review

Friday, October 30, 2020  Spokane, Washington  Est. May 19, 1883
Partly Cloudy Night 34° Partly Cloudy
News >  Washington

Seattle tax on wealthy residents clears council committee

UPDATED: Thu., July 6, 2017

Seattle’s Space Needle is centerpiece to the skyline view from Kerry Park on Queen Anne Hill. Seattle officials will consider a measure that offers hiring bonuses of up to $15,000 to experienced officers who join the city’s police department. (Christopher Reynolds / MCT)
Seattle’s Space Needle is centerpiece to the skyline view from Kerry Park on Queen Anne Hill. Seattle officials will consider a measure that offers hiring bonuses of up to $15,000 to experienced officers who join the city’s police department. (Christopher Reynolds / MCT)
Associated Press

SEATTLE – The Seattle City Council finance committee has approved a proposed income tax on high-income households.

The Seattle Times reported the council approved the tax Wednesday, with a full council vote expected July 10.

The measure would tax 2.25 percent of total annual income, above $250,000 for individuals and above $500,000 for married couples filing jointly.

When the tax was proposed last month, the rate was set at 2 percent. The finance committee increased it to 2.25 percent.

The city estimates the tax would raise $125 million per year. According to a City Hall analysis, it would cost from $10 million to $13 million to set up and $5 million to $6 million per year to administer and enforce.

Supporters say it would make Seattle’s tax structure more fair and they want to test the legality of an income tax in Washington state.

The Spokesman-Review Newspaper

Local journalism is essential.

Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are not tax deductible, but are predominately used to help meet the local financial requirements needed to receive national matching-grant funds.

Subscribe to the Coronavirus newsletter

Get the day’s latest Coronavirus news delivered to your inbox by subscribing to our newsletter.


New health insurance plans available Nov. 1 through Washington Healthplanfinder

 (Photo courtesy WAHBE)
Sponsored

Fall means the onset of the cold and flu season.