The Office of Economic and Financial Analysis
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*Updates*
09/12/18 -- Added a page on the County's discount rate policy
09/01/18 -- King County Economic Forecast with new COLA
08/28/18 -- King County Forecast Model #5 for Q3 2018
08/29/18 -- King County Index of Leading Indicators
08/13/18 -- Econpulse Issue #16 for Q2 2018
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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. The Fed targets an annual inflation rate of around 2%. Current forecasts are 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.
Here for the current KC COLA forecast?
Click here for the latest 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.
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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, however, this revenue began to recover and has now exceeded its previous highs. Beginning April 1st, 2017 the retail sales tax in King County will be 10%. 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.
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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 arrive once per quarter.
Issue #15 - Q1 2018 issue
King County Leading Indicators
Issue #14 - Q4 2017 issue
Employment Growth in King County
Issue #13 - Q3 2017 issue
Wages in the Seattle MSA
Issue #12 - Q2 2017 issue
Unemployment in King County
Issue #11 - Q1 2017 issue
Construction Sales Tax
Issue #10 - Q4 2016 issue
King County Leading Indicators Index
Issue #9 - Q3 2016 issue
I-1433 & the New Minimum Wage Laws
Issue #8 - Q2 2016 issue
New Construction in King County
Issue #7 - Q1 2016 issue
Marijuana Revenues in King County
Issue #6 - Q4 2015 issue
Tourism in King County
Issue #5 - Q3 2015 issue
Poverty in King County
Issue #4 - Q2 2015 issue
Manufacturing Employment
Issue #3 - Q1 2015 issue
Local Real Estate
Issue #2 - Q4 2014 issue
Local Employment Growth
Issue #1 - Q3 2014 issue
Taxable Sales Expenditures
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