Comcast subs in Olympia, Wash., bear brunt of OTT's growing popularity

Over-the-top video is driving a tax hike in Olympia, Wash., where a generational shift from cable TV viewing to the cord-cutter lifestyle has lowered the revenue that the city gathers by taxing Comcast (NASDAQ: CMCSA) based on the number of subscribers. The City Council voted to raise its tax on subscribers an additional $5 per month starting Jan. 1, 2015. But the tax rise won't stem the tide: The city's finance director says its $800,000 income from Comcast subs will continue to decline $10,000 to $15,000 per year. FierceCable has more details here.