B&O on the ballot

A proposed overhaul of the business-and-occupation tax will go to voters on the Nov. 4 general election ballot after the Seattle City Council last week unanimously signed off on the plan.

The Seattle Shield Initiative is the work of Mayor Bruce Harrell and Councilmember Alexis Mercedes. Their plan would temporarily raise B&O rates to bring in approximately $81 million in net revenue to the city, which faces an approximately $143 million a year revenue shortfall, down from $215 million when Rinck and Harrell announced their proposal earlier this summer.

If voters approve, the new B&O tax structure would be in effect for four years, from 2026 through 2029, with an option for the council to renew it through 2033.

The unanimous support for a B&O tax proposal was somewhat surprising from a council with several business-friendly moderates. A day after the City Council signed off on the plan, however, Seattle's political landscape shifted.

https://www.bizjournals.com/seattle/news/2025/08/11/business-and-occupation-tax-overhaul-bruce-harrell.html