TagBudget(76)

The Port of Seattle Commission approved Resolution No. 3755 on December 11, 2018, authorizing a property tax levy of $74,160,000 for the 2019 calendar year. This represents a 3.0 percent increase of $2,160,000 from the 2018 levy of $72,000,000, at a rate of approximately $0.1232 per thousand of assessed value. Excluding new construction and refunds, the effective increase for tax filing purposes was $419,783, or 0.583 percent.

The Port of Seattle's Capital Improvement Projects Third Quarter Report for 2018 provides a public update on the status of the Port's capital projects, covering an planned investment of $895.1 million to expand and upgrade marine and aviation infrastructure. The report details project schedules, budgets, change orders, and risks across a range of project types, including construction, noise mitigation, and technology initiatives. Approximately 2 percent of the capital budget is funded by a King County property tax levy, which is directed in part toward environmental and noise mitigation projects.

In December 2018, the Port of Seattle Commission voted to increase its annual property tax levy by 3 percent, raising it from $72,000,000 to $74,160,000 for the 2019 fiscal year, a difference of $2,160,000. The increase was required to be formally documented under Washington State law (RCW 84.55.120) through a separate resolution specifying both the dollar amount and percentage change. The Commission had previously approved the levy increase as part of its broader 2019 budget adoption in November 2018.

A December 2018 Port of Seattle Commission briefing reported on the status of 100 Capital Improvement Projects managed by Aviation, Seaport, and Information Technology departments. Of those projects, 47 were on budget and on schedule, 46 were behind schedule, and 7 were both behind schedule and over budget. The report was prepared to meet Port of Seattle oversight requirements for major capital projects.

The Port of Seattle Commission considered adoption of Resolution No. 3751 at its November 27, 2018 meeting, formally approving the Port's final operating and capital budget for the year 2019. The resolution authorized the tax levy on assessed property within the Port of Seattle District and directed King County to collect the specified sums. The budget process, which began in April 2018, included multiple public briefings, a public hearing, and required submission of the final statutory budget to the King County Council and Assessor's Office by December 3, 2018.

The Port of Seattle Commission adopted its final 2019 budget via Resolution No. 3751 on November 27, 2018, approving a tax levy of $74,160,000 to fund bond repayments, capital improvements, and general port operations. The resolution directed the King County Council to collect this levy from property owners within the Port District, based on an assessed property value of approximately $602 billion. The budget reflects the Port's commitments to economic development, environmental sustainability, workforce training, and transparent fiscal stewardship.

In November 2018, the Port of Seattle Commission passed Motion 2018-14, directing up to $10 million over 2019–2023 to support Sea-Tac Airport area communities in South King County, including efforts to address airport noise and environmental health. The motion also designated up to $5 million for sustainable aviation fuels and air emissions reduction programs, and allocated $531,000 for a two-year pilot program to educate airport workers on their labor rights. Additionally, the Executive Director was directed to review and update the Port's financial management policies by September 1, 2019.

Resolution No. 3751 is the Port of Seattle's official 2019 budget adoption, approved by the Port Commission on November 27, 2018. It authorizes a tax levy of up to approximately $104 million on assessed property within the Port of Seattle District to fund bond repayments, capital improvements, and general port operations. The resolution reflects the Port's commitments to economic development, environmental stewardship, workforce training, and financial transparency in support of its maritime, aviation, and trade activities.

The Port of Seattle presented its 2019 Budget for final adoption at a Commission Meeting on November 27, 2018, covering operating expenses, a five-year Capital Improvement Plan, staffing, and a proposed tax levy. Key initiatives included serving growing passenger demand at Seattle-Tacoma International Airport, supporting the airport's capital improvement program, improving safety and customer service, and advancing cruise and real estate development projects. Serving increased regional demand was identified as the primary driver behind the 2019 budget.

The Port of Seattle held its 2019 Budget First Reading and Public Hearing on November 13, 2018, presenting the Commission with a comprehensive budget overview covering operating budgets, a 2019–2023 capital plan, staffing, a five-year financial forecast, and a proposed tax levy. The budget process involved extensive Commission engagement throughout 2018, with briefings on Aviation, Maritime, and Economic Development divisions beginning in May and concluding with a final budget release scheduled for December 14, 2018.