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County mistake means Bainbridge Island will get nearly $1 million in backlogged tax revenues
Due to miscalculations by Kitsap County, the city of Bainbridge Island will soon get a check for nearly $1 million.
The city was notified last week that the county had miscalculated Bainbridge's real estate excise tax revenue, resulting in a more than $900,000 owed to Bainbridge Island.
City Manager Doug Schulze told the Bainbridge Island City Council Monday that the city has been reporting discrepancies to the county since early this year.
The downward trend in 2014 tax revenues did not match up with Bainbridge's reviving economy.
Despite improvements in housing sales on Bainbridge, Schulze said, real estate excise tax revenues have been low compared to previous years.
"We were told a number of times that there were no errors, everything was OK," Schulze explained.
"Well, last week we learned that things weren't OK," he said.
The county owes the city of Bainbridge Island more than $900,000 in real estate excise tax revenues.
While the debt is expected to be balanced as an adjustment to the July revenues, Schulze said that the city has requested additional reports from the county to conduct its own analysis in the meantime.
The city's assessment will determine whether the correct amount is paid.