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The momentum of downtown won’t immediately stop, but may slow. The metro area likely will continue to gain, perhaps at record levels. It is important to note most of Seattle’s biggest employers are doing quite well. Boeing is obviously having issues, but they ceased being a Seattle company decades ago, though they still employ many in the region.
I'm referring specifically to public works type construction dispatches, which are both commercial and industrial. Private work has ground to a halt in Seattle and much of the immediate surrounding King County areas. Pierce, SnoHo and Kittitas are growing and growing.
To the extent that I have almost monthly conversations with various Dept of Revenue folks who are concerned that the sales revenues for certain locations may not be correct lol. Oh, it is.
From the Department of Revenue.....sales and use taxes for the city of Seattle Total Taxable.
3rd Quarter 2019
Sales Taxes........7,817,826,469
Use Taxes.............365,496,872
3rd Quarter 2020
Sales Taxes.........6,591,262,800
Use Taxes..............333,496,057
Wow....looks like the city of Seattle is going to have a very significant budget crises......real soon.
From the Department of Revenue.....sales and use taxes for the city of Seattle Total Taxable.
3rd Quarter 2019
Sales Taxes........7,817,826,469
Use Taxes.............365,496,872
3rd Quarter 2020
Sales Taxes.........6,591,262,800
Use Taxes..............333,496,057
Wow....looks like the city of Seattle is going to have a very significant budget crises......real soon.
That's a 16% drop. I honestly expected more, but again it will be a trailing factor. These #'s will continue to dwindle while we'll see them buoy in other locations. Other locations are down 3-5%, while some are actually up.
That's a 16% drop. I honestly expected more, but again it will be a trailing factor. These #'s will continue to dwindle while we'll see them buoy in other locations. Other locations are down 3-5%, while some are actually up.
Those are "depression" like numbers. Even in a depression money gets spent.
But so much for the "summer of love" in Seattle. I picked third quarter since it probably shows the effects of the riots and people adapting to the reality of the pandemic. I was surprised that Bellevue was also down.
On the other hand, Leavenworth is booming. Even with all the retail and restaurants closed and Inslee's ban on non-essential travel!!! That must be the people leaving Puget Sound and moving into their second homes around Leavenworth.
Most of the taxing districts in the state actually recorded increases in taxable sales. It is the hard core urban areas that went down dramatically. Spokane was down a bit.
Lots of interesting data on the Department of Revenue site. Now that I don't get paid for doing policy analysis and fishing season opens next week I am afraid that I won't be able to dig deeper.
But somebody should. As this information becomes public, hopefully there will be some tough questions asked of our political leadership in this state.
That's a 16% drop. I honestly expected more, but again it will be a trailing factor. These #'s will continue to dwindle while we'll see them buoy in other locations. Other locations are down 3-5%, while some are actually up.
That's Q3 too- The conversations I have had with the DOR are about Dec (Q4 2020) and Jan (Q1 2021). They are having quite a time verifying locations-obviously *someone* is concerned about losing significant sales tax revenue and is directing them to reconcile the locations to sales.
Lots of interesting data on the Department of Revenue site. Now that I don't get paid for doing policy analysis and fishing season opens next week I am afraid that I won't be able to dig deeper. Good for you!!
But somebody should. As this information becomes public, hopefully there will be some tough questions asked of our political leadership in this state.
They won't. At the very best enough of the urban hard cores have moved out of SEA and King Co surrounding SEA to dilute their idiotic voting patterns. Would be nice to see some semblance of balance.
They are pretty flat as the following table shows. It was amazing to see how quickly the economy was growing between 3rd quarter 2018 and 2019.
If Washington state taxable sales are flat, that means the drop in Seattle and Bellevue is huge and got shifted to other parts of the state. It will interesting to see if those people return to shopping in those areas.
On-line retail purchases in Washington state, the tax revenue goes to the county that the order was placed. So some of that shift from Seattle might be to areas elsewhere in the Puget Sound area as people bought on-line rather than drove into Seattle or Bellevue.
That would show in the statistical data. It would take a bit of time, but the data is there to determine if that is what happened or people flat out moved away from the Puget Sound metro area.
I assume the number of units below is the number of businesses reporting sales tax revenues.
Statewide Taxable Retail Sales
Year: 2018Q3, 2019Q3, and 2020Q3
NAICS Code: All
Sum By: All
D = Records not disclosable due to confidentiality requirements
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YearNAICSTotal TaxableUnits
We currently live in NV, moved here from CA and we hate it! So were looking to move to WA. I notice all of the different out of state plates, and I can tell who is from a military base because they have the entry sticker. But there are ALOT of people moving in from Washington, Texas, Arizona, Oregon, Iowa as well as California.
As far as the statistics from U-Haul, this is based on their sales. When you book a one way U-Haul you have to schedule your drop-off location, that is where they are getting their numbers. I worked for U-Haul a long time ago.
We have moved many times in our lives (I am at move #19) and have used U-Haul, North American, U-Pack (ABF), etc. Having to wait to have your stuff delivered a week after you've arrived or having your things damaged by expensive moving companies can be a real headache. Also, when these big moving surges started there was a shortage of available moving trucks from the larger companies. So I can see that alot of people are using U-Haul as a better option to make sure they get their stuff on-time and not damaged. Plus it is ALOT cheaper.
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