TagProperty Tax Levy(87)

Commission agenda memorandum dated October 27, 2025, from Chief Financial Officer Chris Wimsatt, Director of Corporate Budget Michael Tong, and Director of Finance Budget Elizabeth Morrison to Executive Director Stephen P. Metruck, requesting introduction and public hearing of Resolution No. 3839 adopting the Port Of Seattle final budget for 2026. Document outlines the 2026 budget

A line graph comparing three levy trajectories in millions of dollars from 1990 to 2026 (forecasted): the Maximum Allowable Levy (red), the Actual Levy (blue), and a hypothetical Levy Tied to Inflation beginning in 1990 (green dashed). The Actual Levy remained well below the Maximum Allowable throughout the period, with both projected to converge toward approximately $90–$120 million by 2026.

The Des Moines, Washington City Council held a regular meeting on October 23, 2025, covering several local government matters including a discussion of a City of Burien letter to the Port of Seattle, which relates to regional aviation and airport policy concerns affecting the area surrounding Sea-Tac Airport. Additional agenda items included a warehouse tax collections update, a 2026 property tax levy hearing, and new business items such as the Marina Steps construction contract and franchise agreements. The meeting also addressed a Memorandum of Understanding with King County Metro Transit and an update to the B&O Tax Model Ordinance.

This Commission agenda memorandum requests authorization for the Executive Director to execute contracts and implement the 2025-2026 Economic Development Partnership Program with King County cities, with funding not to exceed $1,900,000. The document reviews 2024 program outcomes, including investments across small business assistance, buy local/placemaking, business attraction, tourism, and workforce development by 27 participating cities.