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Bellevue council opposes statewide payroll and B&O surcharges and votes to oppose property-tax lift in draft letters to legislators
Summary
Bellevue City Council reviewed state revenue proposals at a March 25 study session and directed staff to prepare city letters opposing a proposed statewide payroll excise and a large-employer B&O surcharge; council also directed staff to oppose the property-tax lift in the current draft proposals.
Bellevue City Council held a late-added study session March 25 to review competing House and Senate proposals for state revenue changes, and then voted to direct staff to prepare letters opposing two statewide tax proposals and to oppose a broad property-tax lid lift as drafted.
City staff presented high-level summaries of proposals released that week. The House package referenced in the briefing would add a 1% surcharge to the business-and-occupation (B&O) tax on very large companies (revenues above $250 million) and a financial-intangibles ("wealth") tax on investment assets; it would also propose a property-tax lift capped at 3% in some formulations. The Senate draft included a payroll excise (a so-called head tax) set at 5% on wages above the Social Security wage base ($176,100 in 2024), a financial-intangibles tax variant, and a property-tax lift tied to…
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