The City of Seattle’s Proposition No. 1 concerns increased property taxes for six years for Pike Place Market.
If approved, this propsition would fund seismic, safety, energy-saving, and other basic infrastructure improvements at the publicly-owned Pike Place Market, last renovated in the 1970s; all as provided in Ordinance 122737. It would authorize regular property taxes higher than RCW 84.55 limits, allowing collection of up to $12,500,000 in additional taxes in 2009 (up to $73,000,000 over six years). Taxes collected in 2009 would be limited to $2.60 per $1,000 of assessed value, including approximately $0.10 of additional taxes.
Should this levy lid lift be approved?
I am torn on this one, but ultimately I think I will vote for it.
Mostly I just don’t know that the benefit to Seattle is worth the public cost. I don’t think Pike Place Market really brings in that many tourists. Sure they’ll go there once they get here. But I don’t think it brings additional tourists who wouldn’t have come otherwise. On the other hand, I like the market (I used to hang out there every day after high school) and I like the ability to buy fresh foods and handmade items. But I don’t go there that often anymore. I’d love to see businesses renting there put up more of the infrastructure money.
Count me for this one, but reluctantly.