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Olympia council hears staff analysis of possible B&O rate changes, staff to begin business outreach
Summary
City staff presented options for changes to Olympia's business-and-occupation (B&O) tax and estimated impacts for local businesses. Staff will begin outreach to local businesses and post an online calculator; council members asked for combined state and city impact estimates and urged a conservative timeline for any decision.
City of Olympia staff briefed the council on options to change the city's business-and-occupation (B&O) tax and on steps to begin outreach to local businesses.
The presentation compared two local options and showed sample impacts on businesses of different sizes; staff also summarized the state-level B&O changes that take effect next year. "My old rate ... totals $7,500, and my new rate is $10,000," said Brandy, describing an example of a large business and how the retail component would carry the increase. City Manager Bernie told council that staff will start business outreach immediately and that he expects updates on the first scheduled meetings in roughly 30 days. "If we want to implement it by January 1,…
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