The council is trying to tackle a £100m gap in its budget for next financial year.
Political reporter, BBC SomersetCouncillors on the Liberal Democrat-controlled authority voted to agree the declaration at a meeting in Yeovil on Tuesday.to try and reduce a predicted £100m gap in its budget for the next financial year.
Further details are expected at the next executive meeting in December, including which services might be cut, council buildings that could be sold off and how much more local people can expect to pay in council tax from April near year.
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