The Port of Seattle Commission voted in November 2019 to increase its regular property tax levy by 3 percent, raising it from $74,160,000 to $76,384,800 for the 2020 budget year. The increase, authorized under Washington State law RCW 84.55.120, amounts to an additional $2,224,800 in tax revenue, with an estimated levy rate of $0.012 per thousand dollars of assessed property value. The resolution was part of the Port's annual budget process, which included multiple public briefings and a public hearing before final Commission adoption.Open full document
Notes
This agenda memorandum requests the Port of Seattle Commission adopt Resolution No. 3764, authorizing a 3 percent increase in the regular property tax levy from $74,160,000 to $76,384,800 for 2020. The resolution is required by RCW 84.55.120, which mandates Washington State taxing districts to specifically authorize any levy increase by ordinance or resolution. The document provides background on the 2020 budget process, including public hearings and Commission briefings conducted throughout 2019.