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Draft Plan of Finance 2025-2029 and Tax Levy Briefing

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Port of Seattle
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Tax Levy 2025

The Port of Seattle Commission reviewed a briefing on its proposed 2025 tax levy and five-year financial plan for 2025–2029. The 2025 property tax levy is proposed at $88.39 million, a 2% increase over the 2024 levy of $86.66 million, set at 75% of the maximum allowed under Washington State law. The Draft Plan of Finance outlines how the Port will fund capital investments across its Airport, Maritime, and Economic Development divisions over the coming five years.

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Notes

Port Of Seattle Commission briefing memorandum (Item No. 11b, October 22, 2024) from Elizabeth Morrison and Scott Bertram, Corporate Finance, to Executive Director Stephen Metruck, on the 2025 tax levy and Draft Plan of Finance for 2025-2029 Capital Investment Plan (CIP). The 2025 property tax levy is proposed at $88.39 million (75% of statutory maximum), a 2.0% increase from the 2024 authorized levy of $86.66 million. Covers funding sources for Airport (self-funding enterprise), Maritime, Economic Development Division, and Northwest Seaport Alliance (NWSA) CIPs. Tag: pos_sm_2024_10_22.

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