Template revised April 12, 2018.
COMMISSION
AGENDA MEMORANDUM
Item No.
10c
BRIEFING ITEM
Date of Meeting
November 17, 2020
DATE: November 28, 2020
TO: Stephen P. Metruck, Executive Director
FROM: Dan Thomas, Chief Financial Officer
Michael Tong, Director, Corporate Budget
SUBJECT: Adoption of Resolution No. 3780, 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 $76,384,800 to $78,676,344.
ACTION REQUESTED
Request Adoption of Resolution No. 3780: 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 $76,384,800
to $78,676,344.
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 2021 budget, Resolution No. 3780 authorizes an increase
of $2,291,544, a 3.0 percent increase in the Port tax levy from 2020. Excluding the new
construction and refund amount, the increase is $1,151,713 or 1.5 percent from 2020 for tax
filing purposes. The Port’s estimated levy rate is $0.122 per thousand of assessed value for 2021.
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 Adoption of the 2021 Budget on November 17, 2020, staff has provided 10 briefings
to the Commission. The preliminary 2021 Budget was provided to the Port Commission and made
available to the general public on October 20, 2020. An announcement of the preliminary budget
COMMISSION AGENDA – Briefing Item No. 10c Page 2 of 2
Meeting Date: November 17, 2020
Template revised September 22, 2016.
and public hearing was made in the Daily Journal of Commerce newspaper on October 28, 2020,
and November 4, 2020.
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 2021
Budget and Draft Plan of Finance will be released to the public by December 15, 2020.
ATTACHMENTS TO THIS REQUEST
(1) Resolution No. 3780
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS
November 10, 2020 – Introduction and Public Hearing of 2021 Budget
November 10, 2020 – Introduction and Public Hearing of 2021 Tax Levy Increase
October 27, 2020 – 2021 Tax Levy and Draft Plan of Finance Briefing
October 13, 2020 – 2021 Maritime & EDD Budgets and Portwide Rollup Briefing
October 13, 2020 – Aviation Division CIP Follow-up and Operating Budgets Study Session
September 22, 2020 – 2021 Central Services Preliminary Budget Briefing
September 22, 2020 – Aviation Division CIP Study Session
August 6, 2020 – Commission Budget Retreat: CIP and Levy Discussion
July 29, 2020 – Commission Budget Retreat: Industry Analysis and SWOT
July 14, 2020 – 2021 Budget Development Briefing
June 4, 2020 – 2021 Budget Discussion
