Everett City Council has taken significant steps to provide tax relief and support local homeowners during their special meeting on November 25, 2024. The council unanimously approved a residential homeowners tax exemption of 25%, which is expected to offer meaningful financial relief to residents. This exemption will save homeowners approximately $2,200 on two-family homes and $3,500 on three-family homes, encouraging stability and retention among local homeowners.

Councilor Robert VanCamp, who sponsored the measure, emphasized the importance of this tax relief, noting that it has been in place for nearly two decades. He highlighted the need for better communication to ensure all eligible residents are aware of the exemption, as some long-term homeowners have previously missed out on these savings.

In addition to the homeowners tax exemption, the council also approved a $10 million appropriation from the budgetary fund balance to reduce the FY 2025 tax levy. This decision aims to alleviate the financial burden on residents, particularly as assessments have increased across the board.

The council further addressed water and sewer rates by approving a $2.1 million appropriation from the sewer budget to offset FY 2025 rates, ensuring that taxpayer funds are utilized effectively to manage essential services.

Overall, these actions reflect the council's commitment to supporting the community through financial relief measures and responsible fiscal management. The council's decisions are expected to have a positive impact on local residents, providing them with much-needed support in challenging economic times.