City Council presented with Draft Bellevue’s 2023-2024 Preliminary Budget
Bellevue City Councilmembers were briefed on City Manager, Brad Miyake's, proposed budget at Monday's meeting of the full council.
“We appreciate the ongoing engagement we've had with city staff," said Chamber President & CEO, Joe Fain. “Bellevue is unique among local jurisdictions, as city leaders have banked property tax capacity through many years of not raising taxes. These prudent decisions and the city's prioritization of public safety is why our polling shows 70% of residents believe Bellevue spends their tax dollars responsibly and over 75% of residents think the city is headed in the right direction. This approach has engendered trust and a greater willingness to make new investments when they are needed."
The Chamber's Policy Council will be briefed directly by city staff at its Oct. 12 meeting. All Chamber members are welcome to listen in the discussion virtually.
City Manager Brad Miyake highlighted the core changes and impact of this new budget in his transmittal letter on Sept. 26, which can be summarized as such:
- The total budget: $2.2 billion, and balanced across all funds
- The changes: There are two types of proposed adjustments in tax revenue
- A .01% rate increase in the Business and Occupation Tax
- A 2% adjustment in property taxes (1% councilmanic adjustment and 1% banked capacity) in 2023, with 2024 containing the councilmanic 1% adjustment only
- What that means: These actions would adjust property taxes up by $18 a year for a $1 million property owner in 2023, and for a business in Bellevue of $1 million in taxable gross receipts, it would result in a $100 annual increase from $1,500 to $1,600.
- The highlights:
- Maintains funding levels for critical core safety programs in fire and police
- Invests $12 million of American Rescue Plan Act (ARPA) funding in upstream critical human services and rental assistance
- Pilots a program on clean streets
- Funds critical capital projects including a non-motorized crossing over Interstate 405, traffic congestion relief projects in BelRed, and more
- The breakdown:
- General fund: $592 million
- Internal Service & Operating funds: $261 million
- Enterprise funds: $568 million
- Special Purpose Expenditures: $139 million
- General & Utilities Capital Investment program: $679 million