TagTax Levy(37)

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.

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.

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.

In November 2018, the Port of Seattle Commission received a briefing on the proposed tax levy and five-year Capital Improvement Plan (CIP) financing for 2019–2023. Staff recommended increasing the property tax levy from $72 million to $74.16 million (a 3% rise) to cover funding gaps in Maritime, Economic Development, and Northwest Seaport Alliance projects, even after deferring certain capital projects. The Airport division was noted as a self-funding enterprise with its own separate financing plan.