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Downtown Seattle Association head: Taxes causing city's high vacancy rate [Yahoo! Finance]

Cushman & Wakefield Ltd. Common Shares (CWK) 
Last cushman & wakefield ltd. common shares earnings: 2/27 04:09 pm Check Earnings Report
Company Research Source: Yahoo! Finance
(The Center Square) – The office building vacancy rate in downtown Seattle reached 35.6% in the last three months of 2025, a record high rate that the head of the Downtown Seattle Association said is directly attributable to an increase in the number of local taxes on businesses. DSA President and CEO Jon Scholes said Amazon has relocated thousands of employees from Seattle to Bellevue and other King County locations due to Seattle's increasingly aggressive tax burden. “These taxes that have been proposed and adopted over the last three or four years have been articulated as progressive revenue,” he said at the annual State of Downtown event on Wednesday. But Scholes said the results are only forcing businesses out of the city and shifting the tax burden to renters, homeowners and small businesses. "What we need is more businesses in Seattle paying taxes,” he said. “That's how we strengthen the tax base.” Businesses in the city face several taxes. The newest tax in the Em Show less Read more
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