Seattle officials worry that implementing a local capital gains tax would coax wealthy residents to change their home addresses. Seattle City Councilmember Cathy Moore is proposing a local 2% capital gains excise tax that would be applicable to non-retirement financial gains over $250,

Washington State voters showed broad support for the State’s Capital Gains tax thi. But the idea for a much smaller city version in Seattle is struggling to stay alive. A crucial vote is scheduled for Thursday.

Councilmember Cathy Moore said her Seattle capital gains tax would be "identical" to Washington state's, except with a 2% rate, rather than 7%.

Members of the Seattle City Council’s Select Budget Committee on Wednesday debated a newly proposed 2% capital gains tax to support food and housing programs for the city’s low- and middle-income residents.