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Lynnwood faces a staggering $7-8 million budget shortfall heading into 2026, prompting city officials to explore potential tax hikes and fee increases to close the gap.

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Lynnwood officials outline $7–8 million 2026 shortfall; property‑tax bank capacity, utility‑tax hikes and fees among options
Finance staff told the council Nov. 3 that mid‑biennial adjustments and recent budget pressures leave an estimated $7–8 million gap for 2026. Staff outlined options that together approach the shortfall: using property‑tax bank capacity (~$3.85M), increasing utility taxes on city‑provided services (modeled up to 10% generating ~$1.4M–$1.9M), vehicle
citizenportal.ai
November 5, 2025 at 4:50 AM
citizenptnewswa.bsky.social
Lynnwood City Council makes a bold move, slashing the general-fund reserve target to combat a looming $10.5 million budget shortfall!

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Lynnwood council lowers general‑fund reserve target to two months through 2026; resolution passes 7‑0
Council voted 7‑0 to amend the financial policy, reducing the general‑fund minimum reserve from 2.5 months to 2 months for the 2025‑26 biennium; leaders said the change helps the city meet internal policy targets given revenue shortfalls and reduces the projected 2026 budget gap from about $10.5 million to about $8 million.
citizenportal.ai
October 29, 2025 at 9:44 AM