As of the new year, the population in city of Sammamish grew to more than 60,000 making the Klahanie-area annexation official Friday.
An adjusted 2015-2016 biennium budget of $220.5 million reflects the additional 2-square-mile area in the city’s revenue and expenditures. The Sammamish City Council approved the updated budget Dec. 1.
The budget adjustment did not stray far from the estimate shown in the November 2014 fiscal study the city commissioned.
In 2016, the annexation is expected to be slightly more costly than anticipated, but due to ongoing revenues and one-time costs, by 2017 the city’s finance department estimates the annexation will have made up that difference plus roughly an additional $250,000.
Part of the revenues brought in by annexing the area will go toward improvements to Issaquah-Fall City Road.
The estimated 2016 budget is $39.5 million, including a surplus of $8 million carried over from 2015.
The city of Sammamish estimates it will collect $3.7 million from property tax from Klahanie-area residents. In total, the city anticipates about $26.9 million in revenue this year from property tax.
These revenues are in spite of the City Council’s decision to not increase its property tax rate, a trend seven years strong.
By law, cities can raise property tax by 1 percent each year. The estimated property tax rate in the city in 2016 is $1.97 per $1,000 of assessed value.
For Klahanie residents, this should be lower than unincorporated King County rates. Lower rates was one of the city’s platforms when campaigning to gain a positive annexation vote.
The city of Sammamish estimated, for a $500,000 single family residence in Klahanie, residents would save nearly $600 in 2015 if they were paying the city’s property tax rate.
The start of the new year also brings two new faces to the Sammamish City Council: Tom Hornish and Christie Malchow.
Among other issues, the council will revisit the tenfold increase to A Regional Housing Coalition and a $4.5 million work order for improvements to Southeast Fourth Street, both of which the 2015 council approved during the budget process in December.
The first council meeting of the year is Jan. 5.