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Office of Economic and Financial Analysis

ADDRESS
Office of Economic and Financial Analysis
500 Fourth Ave, Room 540
Seattle WA, 98104

MAILSTOP
MS-ADM-0540

PHONE
Tel:  206-477-3413

PUBLIC RECORDS REQUESTS
Anne Noris, Clerk of Council
200 King County Courthouse
516 Third Avenue, Seattle, WA 98104
206-296-0364
anne.noris@kingcounty.gov

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*Updates*

08/22/16 -- August 2016 Forecast release (including the new COLA )
08/12/16 -- Econpulse Issue #8 for Q2 2016: New Construction in King County


The August 2016 Economic and Revenue Forecast

 August 22, 2016 

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Quick Links

Local Inflation - Since 2009 we've experienced relatively low annual inflation in most broad indexes, which has some benefits and other drawbacks. One benefit is that labor and operating costs can be lessened with lower inflation. Inflation policy makers target for an annual inflation rate of around 2%. Current forecasts are well within that range. For reference, the CPI-U covers a broader range of consumers, while the CPI-W measures prices for urban, hourly wage earners. 

chart_pic1  Inflation - Seattle CPI-U  Click here for the latest forecast.
chart_pic1  Inflation - Seattle CPI-W Click here for the latest forecast.

Are you here for the latest King County COLA forecast?

Click here for the current COLA forecast.

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Assessed Value - After years of record growth during the housing bubble, the county's assessed value declined from 2010 through 2013. Years 2014 and 2015 marked a major turnaround in assessed value, in fact, as of 2015, assessed value has returned to an all-time high.

chart_pic1  Assessed Value - Countywide Click here for the latest forecast.

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Sales Tax Base - The Great Recession and a slower than normal recovery took a major toll on the county's second largest tax revenue source. Beginning in 2012 this revenue began to recover in earnest and has now exceeded its previous highs. The retail sales tax in King County is currently 9.5%, however the bulk of this revenue is taken by the state and our regional transit authority (Sound Transit). The remaining portions King County receives go on to fund metro transit, criminal justice programs, mental health programs, children and family service programs and general government operations. Click here for a visual representation of the breakdown.

chart_pic1  Sales Tax - Tax base Click here for the latest forecast. 

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EconPulse

We've put together a quarterly report with an economic overview of King County. Click the following links to access our PDF summary of local employment, housing, prices and taxable sales. New issues will arrive once per quarter.

Issue #8 - Q2 2016 issue Topic: New Construction in King County

Issue #7 - Q1 2016 issue Topic: Marijuana Revenues in King County

Issue #6 - Q4 2015 issue Topic: Tourism in King County

Issue #5 - Q3 2015 issue Topic: Poverty in King County

Issue #4 - Q2 2015 issue Topic: Manufacturing Employment

Issue #3 - Q1 2015 issue Topic: Local Real Estate

Issue #2 - Q4 2014 issue Topic: Local Employment Growth

Issue #1 - Q3 2014 issue Topic: Taxable Sales Expenditures

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Twitter

Follow us on Twitter! We're just now wading into social media. Our goal is to tweet interesting charts every other day and announce forecast and EconPulse releases.