It is often said as Seattle and King County Go, so goes the rest of the state. Let’s hope not in this case.
Five Years Later, Seattle’s Jump Start Tax a Resounding Flop
From the same minds that wanted to tax Seattle downtown property owners extra if their buildings were unoccupied came the Jump Start Tax.
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The Council approved the tax, which was to take extra money to be used for non-business supporting purposes such as COVID relief, housing assistance, green programs and more.
The Tax Operates Much Like the Millioniaire’s Tax
Geekwire reports according to a new Downtown Seattle Association Study shows 30,000 jobs were lost since its inception, and taxable revenue from downtown buildings has dropped 48 percent—that means a lot more empty storefronts and offices.
The tax targets the payrolls of the biggest employers in Seattle, such as Amazon, and was projected to rake in about $338 million annualy. However, those numbers have plummeted due to businesses fleeing the area.
Geekwire noted in their story:…