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Last week I shared with you my first initiative that is included in my proposed budget for 2019 – increased support for affordable housing (see that message here). This week I am pleased to share with you my second initiative for next year – accelerated phase out of the City’s Business and Occupation (B & O) Tax.
In my proposed budget I have raised the exemption level from $180,000 to $250,000. The B & O tax is levied in a way that requires the City get the first cut before a business can pay its employees or any other expenses. As I spoke with you over the past year I’ve developed an appreciation that this is tough on your businesses. I want you to keep more of your money and use it to accomplish your entrepreneurial goals. I believe that when you can sustain and grow your companies that you will create jobs and that will contribute to the continued revitalization of our community.
I support the residents and business owners who call Bremerton their home and believe our citizens will greatly benefit from reducing the City’s B & O Tax. If you have any comments about this accelerated phase out of B & O Tax or would like more information, please call or email me at: 360-473-5266 or Greg.Wheeler@ci.bremerton.wa.us.
Mayor, City of Bremerton