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Anacortes finance director: sales tax and permit revenues softened; council urged to study long‑term revenue options
Summary
Finance director Steve Hoglund told the council Jan. 21 that several key revenue streams — cumulative sales tax, building permits, and impact‑fee collections — are down compared with recent years, leaving the city relying on reserves and transfers. Council members and public commenters urged a retreat or workshop to develop revenue strategies.
Steve Hoglund, the city’s finance director, presented a Jan. 21 update showing mixed results across the city’s primary revenue streams and urging council attention to longer‑term trends.
Hoglund told councilors that cumulative sales tax for 2024 was below 2023 collections (a year‑over‑year decline he described as a continuing trend), building permit revenue fell to about $298,000 for the year, and the city collected roughly $113,000 in combined impact fees in 2024. He said real‑estate‑excise‑tax (REIT) balances will leave the city with an estimated $3.4 million in REIT cash after planned year‑end transfers, and he estimated roughly $1.0 million in REIT transfers into capital funds to support 2025 projects.
Hoglund…
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