Seattle residents will vote on a $1.55 billion transportation levy on November 5th. If passed, this would be the largest levy in the city’s history. The levy, supported by Mayor Bruce Harrell and approved by the City Council, aims to fund various transportation projects, including safety improvements, bridge repairs, traffic signal upgrades, and pothole repairs.
Financial Implications
The proposed levy would nearly double the annual property tax rate for Seattle residents. The additional tax would amount to approximately 65 cents per $1,000 of assessed property value. For a property assessed at the median value of $804,000, this translates to an annual cost of $528, a significant increase from the current $276.
This may not seem like much upfront, but there’s a number of implications with rising rates like this. The two main ones are some people are finding it increasingly challenging to afford their owns and every dollar counts. Increasing may not seem like much annually, but if you’re living paycheck to paycheck, it can be challenging. What’s more, if it becomes so challenging you want to sell your home, some prospective buyers may see the higher rate and pass, putting people in a potential “damned if you do, damned if you don’t.”
Allocation of Funds
If approved, the $1.55 billion levy will be distributed over eight years as follows:
- Street maintenance and modernization: $403 million
- Bridge infrastructure and safety: $221 million
- Pedestrian safety: $193 million
- Vision Zero and school/neighborhood safety: $160.5 million
- Transit corridor and connection improvements: $151 million
- Bicycle safety: $133.5 million
- Traffic signal installation and maintenance: $100 million
- Climate change mitigation and environmental protection: $69 million
- Public space activation: $66.5 million
- Freight transportation system improvements: $45 million
- Governance, oversight, and property tax relief education: $7.5 million
Arguments in Favor of the Levy
Supporters of the levy argue that it will enhance safety, reduce congestion, and improve overall connectivity within the city. They highlight the focus on critical safety and accessibility projects, such as repaving heavily used corridors, repairing aging bridges, and constructing new sidewalks. Additionally, supporters emphasize the inclusion of an independent oversight body to ensure accountability.
Arguments Against the Levy
Opponents of the levy contend that it is too expensive and places an undue burden on middle-class residents. They express concerns about the potential for landlords to pass on the increased tax costs to tenants through higher rents. Furthermore, opponents argue that the levy is ineffective and allocates funds to unnecessary projects, such as bike lanes that negatively impact small businesses. They advocate for a “no” vote and urge city leaders to reconsider the proposal.
Ultimately, if you have an opinion, the best way to voice it is to get out and vote.
Photo by Katie Harp on Unsplash