City Council Passes 1893 Tax Levy Amid Financial Strain
Seattle's municipal government sets the millage rate while reporting over $2.5 million in bonded debt.
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The city council passed the tax levy ordinance last night, setting a tax of 12.6 mills for the year 1893. Of this, 10.7 mills will be levied on the whole city, with an additional 1.9 mills for the original city limits. Corporation Counsel Denworth drafted the ordinance, and City Comptroller Carson explained that the levy was based on the lowest possible estimate of the city's needs, including interest on bonds. The report reveals a substantial debt load, with $2,565,000 in bonded indebtedness and over $153,000 in floating debt, while the city's cash on hand remains significantly lower than its obligations.
“The levy had been based upon the very lowest estimate of the needs of the city, including interest on the bonds, together with that which had accrued this year and which must be met on January 1.”
Municipal finance, debt management, and the struggle to balance the budget while funding growth are themes as central to the 1892 Seattle City Council as they are to modern city hall proceedings.
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