Template revised September 22, 2016.
COMMISSION
AGENDA MEMORANDUM
Item No.
8b
ACTION ITEM
Date of Meeting
November 12, 2019
DATE: November 1, 2019
TO: Stephen P. Metruck, Executive Director
FROM: Dan Thomas, Chief Financial Officer
Michael Tong, Director, Corporate Budget
SUBJECT: Introduction and Public Hearing of Resolution No. 3764, specifying the dollar and
percentage change in the regular property levy from the previous year per RCW
84.55.120; providing for an increase of the levy from $74,160,000 to $76,384,800.
ACTION REQUESTED
Request Introduction and public hearing of Resolution No. 3764: A resolution of the Port
Commission of the Port of Seattle specifying the dollar and percentage change in the regular
property levy from the previous year per RCW 84.55.120; providing for a 3 percent increase of
the levy from $74,160,000 to $76,384,800.
EXECUTIVE SUMMARY
RCW 84.55.120 requires Washington State taxing districts to adopt a separate ordinance or
resolution specifically authorizing any increase in property tax levies. The resolution must also
specifically state the dollar increase and percentage change in the levy from the previous year.
In connection with the Port’s proposed 2020 budget, Resolution No. 3764 authorizes an
increase of $2,224,800, a 3.0 percent increase in the Port tax levy from 2019. Excluding the new
construction and refund amount, the increase is $1,035,306 or 1.4 percent from 2019 for tax
filing purposes. The Port’s estimated levy rate for 2020 is $0.012 per thousand of assessed
value compared to $0.0123 per thousand in 2019.
ADDITIONAL BACKGROUND
The budget process includes planning, setting up and testing new budget modules in the
budget system, budget user training, department strategic and business planning, publishing
budget guidelines, establishing budget targets, entering budget data into the system, running
budget allocations and budget reports, conducting department and division reviews, executive
reviews, and Commission reviews, preparing and publishing the preliminary budget document,
a public hearing, adoption of the final budget, filing the statutory budget with the King County
Council and Assessor’s Office, and the preparation and release of the final budget document.
Prior to the Introduction and Public Hearing of the preliminary 2020 Budget on November 12,
2019, staff has provided 10 briefings to the Commission. The preliminary 2020 Budget was
COMMISSION AGENDA – Action Item No. 8b Page 2 of 2
Meeting Date: November 12, 2019
Template revised September 22, 2016; format updates October 19, 2016.
provided to the Port Commission on October 22, 2019, and was made available to the general
public on October 24, 2019. An announcement of the preliminary budget and public hearing
was made in the Daily Journal of Commerce newspaper on October 30, 2019.
After the public hearing and Commission adoption of a final plan, the statutory budget will be
filed with the King County Council and King County Assessor as required by law. The final 2020
Budget and Draft Plan of Finance will be released to the public by December 13, 2019.
ATTACHMENTS TO THIS REQUEST
(1) Draft Resolution No. 3764
(2) Presentation slides
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS
October 22, 2019 – 2020 Tax Levy and 2020-2024 Draft Plan of Finance Briefing
October 22, 2019 – Maritime and Economic Development 2020 -2024 CIP Briefing
October 8, 2019 – 2020 Maritime and Economic Development Divisions Operating Budgets
Briefing
October 8, 2019 (AM) – 2020 Aviation Division Operating and Capital Budgets Briefing
September 24, 2019 – 2020 Central Services Preliminary Budget Briefing
August 13, 2019 – 2020 Maritime and EDD CIP and Funding Discussion
July 9, 2019 – 2020 EDD Business Plan and Budget Development Briefing
June 25, 2019 – 2020 Maritime Business Plan and Budget Development Briefing
June 11, 2019 – 2020 Aviation Business Plan and Budget Development Briefing
June 4, 2019 – 2020 Budget Special Meeting
