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2025-06-05 Council Special Committee of Whole PacketAgenda Edmonds City Council SPECIAL MEETING/COMMITTEE OF THE WHOLE CITY COUNCIL CONFERENCE ROOM 121 - 5TH AVENUE N, EDMONDS, WA 98020 JUNE 5, 2025, 6:30 PM Edmonds City Council Agenda June 5, 2025 Page 1 COUNCIL COMMITTEE MEETINGS ARE WORK SESSIONS FOR THE COUNCIL AND CITY STAFF. COMMITTEE MEETING AGENDAS DO NOT INCLUDE AUDIENCE COMMENTS OR PUBLIC HEARINGS. PERSONS WISHING TO JOIN THIS MEETING VIRTUALLY IN LIEU OF IN-PERSON ATTENDANCE CAN CLICK ON OR PASTE THE FOLLOWING ZOOM MEETING LINK INTO A WEB BROWSER USING A COMPUTER OR SMART PHONE: HTTPS://ZOOM.US/J/95798484261 OR JOIN BY DIAL-UP PHONE: US: +1 253 215 8782 WEBINAR ID: 957 9848 4261 STAFF AND COUNCILMEMBERS ATTEND COMMITTEE MEETINGS VIRTUALLY, AND MEMBERS OF THE PUBLIC ARE ENCOURAGED TO ATTEND THE SAME WAY. IF MEMBERS OF THE PUBLIC CANNOT ACCESS THE VIRTUAL COMMITTEE MEETINGS WITH THEIR PERSONAL DEVICES, A MONITOR IS PROVIDED AT THE CITY COUNCIL CONFERENCE ROOM AT 121 5TH AVE N, EDMONDS WA. 1. CALL TO ORDER 2. CONVENE IN EXECUTIVE SESSION TO DISCUSS PENDING OR POTENTIAL LITIGATION PER RCW 42.30.110(1)(I) (30 MIN.) 3. RECONVENE IN OPEN SESSION 4. COMMITTEE BUSINESS 1. City Budget Scenario Discussion (75 min) ADJOURNMENT 8:15 PM City Council Agenda Item Meeting Date: 06/5/2025 City Budget Scenario Discussion Staff Lead: City Council Department: City Council Preparer: Beckie Peterson Background/History The 2025-2026 Biennial budget adopted by Council included certain key assumptions, noted on page 11 of the adopted budget. One of these assumptions concerns regular property tax revenues. Regular property tax revenue for 2026 was budgeted to increase by $6,144,000. This indicates that council anticipated raising the general fund levy by 1% as they are authorized to do each year without a vote (approximately $115,320) and that Council would ask voters for an additional levy lid lift of $6,000,000. During the May 9, 2025 Budget Retreat, Council and staff discussed several scenarios that Council will need to consider as they contemplate the budgetary needs and a potential levy lid lift for 2026 and beyond. June 3, 2025 Mayor Rosen presented to Council his analysis and recommendation for budgetary needs, revenues, and potential levy lid lift options. Minutes to this meeting are pending, the video of the this meeting is available on the city website. The presentation slides and handouts from the June 3 meeting are attached. Recommendation Council discussion. Narrative 1. Scenario 1: The 2026 budget as adopted, which assumes a levy-lid-lift of $6,000,000. 2. Scenario 2: Consider establishing a 2026 budget that would fund levels of service that meet both our city’s operational and maintenance needs and the expectations of our community, which would require a levy-lid-lift consideration of an amount to be determined that is more than $6,000,000. Analysis and Recommendation was presented to Council June 3. This is the focus of discussion for this Special Meeting. 3. Scenario 3: A budget $6,000,000 less than what is in the adopted budget, and would be the resulting outcome if Council chooses not to pursue a levy lid lift at all, OR if the levy lid lift (of either Scenario 1 or Scenario 2) is not approved by voters. Attachments: June 3 Council Meeting Scenarios 20250603 Handout June 3 2025 Revenue Oppty Worksheet Rosen Short List Handout June 3 Scenario 2 Side by Side 4.1 Packet Pg. 2 Investing in Our Future Together Edmonds City Council 6.3.25 4.1.a Packet Pg. 3 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Investing in Our Future Together Fiscal resiliency Build the right budget New revenue sources Expense Reductions New taxes 4.1.a Packet Pg. 4 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Investing in Our Future Together For Our Safety Our Quality of Life Our Community 4.1.a Packet Pg. 5 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Scenario 1 Continues current reduced service.Three Roads Scenario 2 Provides opportunity to increase safety, improve streets, sidewalks and public spaces and protect our quality of life. Scenario 3 Significant additional reductions and elimination of services, staffing and building closures. 4.1.a Packet Pg. 6 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Levy Scenario One Continues current reduced services 4.1.a Packet Pg. 7 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Levy Scenario Three Addressed in the previous agenda item 4.1.a Packet Pg. 8 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Levy Scenario Two Provides opportunity to increase safety Improve streets, sidewalks and public spaces, and protects our quality of life 4.1.a Packet Pg. 9 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Levy Scenario Two Non-Levy Revenue Opportunities 4.1.a Packet Pg. 10 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Levy Scenario Two Previous Milestones: 4.02.24 Fiscal 1st Aid Levy introduced 8.18.24 Budget Retreat Levy Discussion 10.01.24 Budget Presentation 29 Revenue Ideas 12.17.24 Council Budget adopted (with levy) 5.01.25 Council Retreat 129 Revenue Ideas Non-Property Tax Revenue Opportunities 4.1.a Packet Pg. 11 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Levy Scenario Two •Reflect estimates for costs and net revenue •Will take time to implement and to realize revenue •Council action and commitment required Non-Property Tax Revenue Opportunities 4.1.a Packet Pg. 12 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) INITIATE IN 2025 FOR IMPACT BEGINNING IN 2026 – 2027 Law enforcement and criminal justice sales tax $1,300,000 Some combination of B&O Tax / Head Tax $1,500,000 Annex Esperance $1,367,890 Pursue Tax Increment Financing (TIF) Sales Tax Credit for annexing Esperance (10 yrs)$2,600,000 Raise utility tax - (water sewer storm)$ 720,000 Charge for parking $ 250,000 School zone cameras operate all day/add more Cameras $ 445,612 Cultural Access Sales Tax $ 130,000 Increase business license rate $ 50,700 Increase fees for code violations $ 10,000 Cost recovery for fees related to Hearing Examiner cases $ 5,000 Escalate fines based on speed in school zones $ 100,000 Increase pet license fee $ 3,000 SUB TOTAL $8,482,202 INITIATE IN 2026 AND 2027 Increase Red light cameras $1,181,116 Increase motor vehicle license fees from $40 to $50 $ 116,666 Transportation Multi-modal Impact Fees $ 350,000 Require a landlord license for every house & apartment $ 60,000 Increase Development Fees $ 40,000 Raise wireless lease for Five Corners Reservoir $ 20,000 Introduce a Commercial Parking Tax $ 2,000 SUB TOTAL $1,769,782 -Estimates- Recommended Non-Levy Revenue Opportunities 4.1.a Packet Pg. 13 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Identifying a Levy Lid Lift Amount 11 2 3 Price of Government Comps Staff Analysis Community Priorities and Input 4.1.a Packet Pg. 14 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Identifying a Levy Lid Lift Amount 11 2 3 Price of Government Comps Staff Analysis Community Priorities and Input 4.1.a Packet Pg. 15 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Community Priorities and Input Keep Edmonds Vibrant Recommendation 2025 Gap $21,419,000 Changes already implemented ($716,000) Non-property tax new revenue (Immediate)($9,000,000) Proposed Levy Lid Lift Amount $11,703,000 4.1.a Packet Pg. 16 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) 11 2 3 Price of Government Comps Staff Analysis Community Priorities and Input Price of Government Comps 4.1.a Packet Pg. 17 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Price of Government Comps ASSUMPTIONS: Access to revenue will be reduced initially due to: Need to pay back interfund loan $6,000,000 + interest in two years Need to restore reserves Continue to recommend reducing policy reserve % and extending the time to 10 years. 4.1.a Packet Pg. 18 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Price of Government Comps ASSUMPTIONS: Backlog Facilities $2,000,000 Roads $1,200,000 ADA Ramps $ 60,000 Sidewalks $ 500,000 TOTAL $3,760,000 (Council Discretion) 4.1.a Packet Pg. 19 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Price of Government CompsNOTES: •Originally presented by Mike Bailey •Comparisons are hard to make •Used Office of Financial Management (OFM) population data •Added Issaquah, removed Everett •All NW •All similar size (smaller and larger) •Used a placeholder of $5,000,000 from non-levy sources 4.1.a Packet Pg. 20 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Price of Government Comps Per Capita Expenses Comps Mountlake Terrace $1,016 Bothell $1,185 Renton $1,274 Issaquah $1,600 Lynnwood $1,751 Redmond $2,178 *Edmonds $1,222 Average = $1,501 4.1.a Packet Pg. 21 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Price of Government Comps Average Comps $1,501 Edmonds Population (OFM) 43,420 Budget based on Comps $65,158,947 Backlog $3,760,000 TOTAL BUDGET $68,918,947 2026 Revenue Projection $47,405,490 Gap $21,513,457 Non-Property Tax Revenue Adds -$5,000,000 Proposed Levy Lid Lift $16,513,457 (Council Discretion) 4.1.a Packet Pg. 22 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Staff Analysis 11 2 3 Price of Government Comps Staff Analysis Community Priorities and Input 4.1.a Packet Pg. 23 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Staff Analysis NOTES: •Addressing concerns, priorities expressed by the community. •Director and staff experience in the department. •Director and staff experience in other cities. •Consultant analysis. •National industry standards. 4.1.a Packet Pg. 24 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Staff Analysis Police Examples: Parking enforcement Animal control Emergency manager Staff for drug task force/crime investigation/training Social worker 4.1.a Packet Pg. 25 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Staff Analysis Parks Examples: Increased maintenance Beach Rangers and Environmental Ed Parks planning and acquisition Ability to address backlog such as Yost Park 4.1.a Packet Pg. 26 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Staff Analysis Planning, Building and Engineering Examples: Updating code More responsive permit review and inspection Improved planning process 4.1.a Packet Pg. 27 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Staff Analysis Street and Facility Examples: Maintain street at industry standard Ability to address backlog Sidewalk expansion Get closer to industry standard for building maintenance support Address facility backlogs 4.1.a Packet Pg. 28 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Staff Analysis Other City Services Examples: Volunteer coordinator Significantly improved public engagement National lobbying support Improve protection against cyber attacks Improved financial tracking and reporting Better able to meeting Public Record request demands Centralized purchasing Grants manager 4.1.a Packet Pg. 29 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Staff Analysis Staff List $17,421,279 4.1.a Packet Pg. 30 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Staff Analysis Staff List $17,421,279 Levy in budget $6,000,000 Backlog $3,760,000 Additional Needs $27,181,279 4.1.a Packet Pg. 31 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Staff Analysis Staff List $17,421,279 Levy in budget $6,000,000 Backlog $3,760,000 Additional Needs $27,181,279 2026 Revenue Projection $47,405,490 TOTAL BUDGET $74,586,769 4.1.a Packet Pg. 32 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Staff Analysis Staff List $17,421,279 Levy in budget $6,000,000 Backlog $3,760,000 Additional Needs $27,181,279 2026 Revenue Projection $47,405,490 TOTAL BUDGET $74,586,769 Gap $27,181,279 Non-Property Tax Revenue -$5,000,000 Proposed Levy Lid Lift $22,181,279 4.1.a Packet Pg. 33 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) RECOMMENDATIONS SIDE-BY-SIDE KEV Recommendation $11,703,000 Municipal Comps $16,513,457 Staff Analysis $22,181,279 4.1.a Packet Pg. 34 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) RECOMMENDATIONS SIDE-BY-SIDE KEV Recommendation $11,703,000 Municipal Comps $16,513,457 Staff Analysis $ 22,181,279 Reduce $9m to $5m $15,703,000 4.1.a Packet Pg. 35 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) RECOMMENDATIONS SIDE-BY-SIDE KEV Recommendation $11,703,000 Municipal Comps $16,513,457 Staff Analysis $ 22,181,279 Reduce $9m to $5m $15,703,000 RECOMMENDATION $19,347,368 4.1.a Packet Pg. 36 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Price of Government Comps Per Capita Expenses Comps Mountlake Terrace $1,016 Bothell $1,185 Renton $1,274 Issaquah $1,600 Lynnwood $1,751 Redmond $2,178 *Edmonds $1,222 Average = $1,501 Budget POG KEV $68,108,490 $1,569 COMPS $68,918,947 $1,587 STAFF $74,586,769 $1,718 REC. $71,752,858 $1,653 4.1.a Packet Pg. 37 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Change the revenue projection Change the backlog amount Determine a number SOME OF COUNCIL OPTIONS 4.1.a Packet Pg. 38 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Scenario 1 $ 6m (Currently in the budget) Continues current reduced service Three Roads Scenario 2 $ Xm Provides opportunity to increase safety, improve streets, and strengthen parks, recreation and quality of life Scenario 3 -$ 8,000,000 Significant reduction and elimination of services, staffing and building closures. 4.1.a Packet Pg. 39 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Date Type of Meeting What June 3 Council Meeting Audience Public Comment - Staff Presentation - Council Discussion June 5 Special Meeting COTW Discuss scenario 2 and possibly scenario 3 Direct City Attorney to Draft Resolution June 10 Council Meeting Public Comment - Council Discussion June 17 Committee of the Whole Council Potential Action Direct City Attorney to Draft Resolution, Set date for PH June 24 Council Meeting Public Comment -Council Review Resolution July 1 Council Meeting Audience Public Comment Public Hearing July 8 Council Hearing Audience Public Comment Potential Council Action Consider Adoption of levy lift for November election - Approve Pro/Con Committee Selection Process July 15 Committee of the Whole Council Discussion Pro/ Con applicants published in packet July 22 Council Meeting Audience Public Comment Pro and Con Committee Appointments July 29 5th Tuesday – possible Council Special Meeting Audience Public Comment August 5 DEADLINE Filing Deadline Opportunities for Public Input 4.1.a Packet Pg. 40 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Questions / Discussion For Our Safety Our Quality of Life Our Community How do We Best Invest in Our Future Together: 4.1.a Packet Pg. 41 At t a c h m e n t : J u n e 3 C o u n c i l M e e t i n g S c e n a r i o s 2 0 2 5 0 6 0 3 ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) Estimated Cost Est. Revenue INITIATE IN 2025 FOR IMPACT IN 2026 - 2027 Law enforcement and criminal justice sales tax $ 1,300,000 Some combination of B&O tax / Head tax $ 1,500,000 Annex Esperance $700,000 $ 1,367,890 Pursue Tax Increment Financing (TIF) Sales tax credit for annexing Esperance $ 2,600,000 Raise utility tax - (water, sewer, storm) $ 720,000 Charge for parking $20,000 $ 250,000 School zone cameras operate all day & add additional cameras $300K/yr (5 cameras) $ 445,612 Cultural Access Sales Tax $ 130,000 Increase business license rate $ 50,700 Increase fees for code violations $ 10,000 Get cost recovery for legal fees related to Hearing Examiner cases $ 5,000 Escalate fines based on speed in school zones $ 100,000 Increase pet license fee $ 3,000 SUB TOTAL $720,000 $ 8,482,202 TWO TO THREE YEARS Increase the number red light cameras, if large #s of violations $60,000 $ 1,181,116 Increase motor vehicle license fees from $40 to $50 $ 116,666 Transportation Multi-modal Impact Fees $35,000 $ 350,000 Require a landlord license that applies to every rental house and apartment $ 60,000 Increase development fees $10,000 $ 40,000 Raise wireless lease for Five Corners reservoir Appraisal $ 20,000 Introduce a Commercial Parking Tax $ 2,000 SUB TOTAL $105,000 $ 1,769,782 TOTAL $825,000 $ 10,251,984 Non-Levy Revenue Recommendations 1 4.1.b Packet Pg. 42 At t a c h m e n t : H a n d o u t J u n e 3 2 0 2 5 R e v e n u e O p p t y W o r k s h e e t R o s e n S h o r t L i s t ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n ) STAFF ANALYSIS MIKE BAILEY COMPS Replaced Everett with Issaquah Staff List $17,421,279 Levy in budget $6,000,000 Average of Comps $1,501 Backlog $3,760,000 Edmonds Population OFM 43,420 Additional Needs $27,181,279 Budget based on POG Comps $65,158,947 2026 Revenue Projection/Budget $47,405,490 Backlog $3,760,000 TOTAL $74,586,769 TOTAL BUDGET $68,918,947 COMMUNITY (KEV) RECOMMENDATION Revenue $47,405,490 2026 Revenue Projection/Budget $47,405,490 2025 Gap $21,419,000 Gap $27,181,279 Gap $21,513,457 Changes already implemented ($716,000) Non Property Tax revenue adds -$5,000,000 Non Property Tax revenue adds -$5,000,000 Non-propery tax new revenue (Immedi ($9,000,000)MAYOR RECOMMENDATION Proposed Levy Lid Lift Amount $22,181,279 Proposed Levy Lid Lift Amount $16,513,457 Proposed Levy Lid Lift Amount $11,703,000 Proposed Levy Lid Lift Amount $19,347,368 Assessed value divided by 1K $15,996,864.7840 April 1, 2024 Population of Cities, Towns and Counties Assessed value divided by 1K $15,996,864.7840 Assessed value divided by 1K $15,996,864.7840 Levy rate to bring in this amount $1.3866 Levy rate to bring in this amount $0.7316 Levy rate to bring in this amount $1.2094 Edmonds median home value $840.20 Mountlake Terrace $1,016 Edmonds median home value $840.20 Edmonds median home value $840.20 Annual Increase $1,165 Bothell $1,185 Annual Increase $615 Annual Increase $1,016 Monthly Increase $97.09 Renton $1,274 Monthly Increase $51.22 Monthly Increase $84.68 Issaquah $1,600 Lynnwood $1,751 Redmond $2,178 Median Home Value $840,200 Assessed value divided by 1K $15,996,864.7840 Median Home value dividied by 1K $840.20 Levy rate to bring in this amount $1.0323 Edmonds median home value $840.20 Annual Increase $867 Monthly Increase $72.28 SIDE-BY-SIDE LEVY LID LIFT APPROACHES 4.1.c Packet Pg. 43 At t a c h m e n t : H a n d o u t J u n e 3 S c e n a r i o 2 S i d e b y S i d e ( C i t y B u d g e t S c e n a r i o D i s c u s s i o n )