January 15, 2023August 2, 2026

Two Sides Of The Street

Properties

An infographic titled 'Two Sides of the Same Street' compares tax and lease revenues for similar properties at Des Moines Creek Business Park. The Port of Seattle property (west of 24th Ave., 490,456 sq ft lot) has an appraised land value of $0 and pays $0 in property tax, while the adjacent private owner property (east of 24th Ave., 399,349 sq ft lot) has an appraised land value of $56,260,000 and pays $707,650 in property tax.

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An infographic titled ‘Two Sides of the Same Street’ compares tax and lease revenues for similar properties at Des Moines Creek Business Park. The Port of Seattle property (west of 24th Ave., 490,456 sq ft lot) has an appraised land value of $0 and pays $0 in property tax, while the adjacent private owner property (east of 24th Ave., 399,349 sq ft lot) has an appraised land value of $56,260,000 and pays $707,650 in property tax.

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As the source for federal transportation grants, the Puget Sound Regional Council was charged with developing a system to meet the growing need for commercial aviation. When the search for a second airport failed, they authorized the Port of Seattle to build the Third Runway, with a mandate to develop a noise abatement and mitigation program. In their effort to stop the Third Runway, the ACC argued over every detail of the Port's efforts--including property buyouts and sound insulation. The dispute was meant to be settled by a three member Expert Arbitration Panel. This is their final report. It finds 2-1, that the Port's program was insufficient in several respects. Despite that, funding for the Third Runway was approved by the PSRC, and the 'Port Package' program, proceeded largely unchanged. Expert Arbitration Panel's final decision finding that the Port of Seattle had not shown sufficient reduction in real on-the-ground noise impacts to satisfy noise reduction conditions required for approval of a third runway at Sea-Tac International Airport. The majority decision concluded the Port's noise abatement programs were insufficient despite being impressive in scope.

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