The Port of Seattle Commission proposed Resolution No. 3764 in November 2019 to authorize a 3 percent increase in the Port's annual property tax levy, raising it from $74,160,000 to $76,384,800 for the 2020 budget year. The resolution was required under Washington State law (RCW 84.55.120), which mandates that taxing districts formally specify the dollar and percentage change in any property tax levy increase. Following a public hearing on November 12, 2019, the final 2020 budget was to be filed with the King County Council and Assessor's Office, with public release scheduled by December 13, 2019.Open full document
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Commission agenda memorandum requesting introduction and public hearing of Resolution No. 3764, which authorizes a 3 percent increase in the Port of Seattle’s regular property tax levy from $74,160,000 to $76,384,800 for 2020. The resolution is required under RCW 84.55.120, which mandates Washington State taxing districts to adopt a separate ordinance or resolution specifically authorizing any increase in property tax levies. The estimated levy rate for 2020 is $0.012 per thousand of assessed value, down from $0.0123 per thousand in 2019.