Seattle : State Data and Comparisons : Data-Z

Seattle, WA

TIA Data

2022 Financial State of Seattle (Released 2/15/2024)

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Seattle owes more than it owns.

Seattle's Taxpayer Burden™ is -$2,600, and it received a "C" from TIA.

Seattle is a Sinkhole City without enough assets to cover its debt.

Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations.

Seattle only has $3.9 billion of assets available to pay bills totaling $4.6 billion.

Because Seattle doesn't have enough money to pay its bills, it has a -$722.7 million financial hole. To erase this shortfall, each Seattle taxpayer would have to send -$2,600 to the city.

Seattle's reported net position is understated by $151.8 million, largely because the city defers recognizing gains resulting from decreases in retirement liabilities.

The city's financial report was released 179 days after its fiscal year end, which is considered timely according to the 180 day standard.

Prior Years' TIA Data

2021 Financial State of Seattle

2020 Financial State of Seattle

2019 Financial State of Seattle

2018 Financial State of Seattle

2017 Financial State of Seattle

2016 Financial State of Seattle

2015 Financial State of Seattle

Other Resources

Seattle Annual Comprehensive Financial Reports

Publishing Entity: Department of Finance and Administrative Services