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Dear Yarrow Point Residents,

We are creeping up on the Holiday Season…and perhaps gift purchasing season for many. Hope it will be a fun and safe Holiday Season for you!

Several Announcements…

Hope to see you at our Coffee Cart celebrating our Veterans next week on Tuesday morning 11/11 at Town Hall 8:00-11:30 a.m..  And save the date in your calendar for our Town Christmas Ships Event Sunday December 21st at 2:35-2:55 at Road End Beach. It is very early this year, but we will have cocoa, cookies, caroling and community camaraderie.

!!! Please consider this information as you make purchases both this Holiday Season and throughout the year.

The Town receives a very small percentage of the sales tax we all pay for purchases of goods and services delivered to Yarrow Point. Each time you use your Yarrow Point address to receive goods and services, 1.1% of the 10.3% sales tax you pay is passed through to the Town as unrestricted revenue. This revenue helps us run the Town, pay for Public Safety — Police and Fire, repair and maintain our streets and stormwater systems, preserve our parks, light our roads, etc.

Sales Tax Example:

If you take delivery on a $1,000 iPhone in Yarrow Point instead of buying it in Bellevue, Yarrow Point will receive that $11 portion of city sales tax instead of Bellevue. This adds up for our Town. For larger ticket items, it can be an enormous help to our town coffers. $100,000 in Sales will generate ~$1,100 in sales tax revenue for our Town.

Please keep this in mind as you purchase anything this Holiday Season and throughout the year, especially when purchasing more valuable items, so Yarrow Point will receive this important sales tax revenue instead of another city. Art is a great revenue-generating example!

Please override the auto-filled city if the merchant inputs Bellevue. If you are able to override it, please correct the city to be Yarrow Point. This will help ensure we get the revenue instead of inflating Bellevue’s.

The only other significant Town revenue sources are:

  1. a very small sliver of your property taxes (only ~4.7% of your property tax bill is revenue for our Town; the remaining 95.3% goes to the county, schools, Emergency services, etc.). For example, on a $5M home, the portion of your property tax allotted to the Town is ~$1500
  2. the restricted revenue from real estate excise tax (each time a property is sold, the Town receives a small portion of the tax “REET” to be used on capital improvement projects). This restricted revenue is approximately $5,000 per $million sale price. For example, a home selling for $5M will yield ~$25,000 in REET revenue for the Town.

Please contact Town Hall if you have any questions.

Happy Holidays!

Katy