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Is Seattle witnessing a tax revenue crisis in 2025? That’s what the recent Payroll Expense Tax (PET) numbers suggest. Seattle Mayor Bruce Harrell released the PET report for 2024 on March 25, 2025, and the numbers were found to be nearly $47 million short of the projected amo
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nt. The shortfall has been linked to the number of major companies relocating from Seattle to other regions. If the exodus of high-paying jobs is truly to blame for the situation, then we could see a repeat of Seattle’s tax revenue crisis in the next few years as well if left unresolved, which