Template revised April 12, 2018.
COMMISSION
AGENDA MEMORANDUM
Item No.
10b
ACTION ITEM
Date of Meeting
November 29, 2022
DATE: November 4, 2022
TO: Stephen P. Metruck, Executive Director
FROM: Dan Thomas, Chief Financial Officer
Michael Tong, Director, Corporate Budget
SUBJECT: Adoption of Resolution No. 3806, 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 $81,036,634 to $82,657,367
ACTION REQUESTED
Request Adoption of Resolution No. 3806: 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 2 percent increase of the levy from $81,036,634
to $82,657,367.
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 2023 budget, Resolution No. 3806 authorizes an increase
of $1,620,733, a 2.0 percent increase in the Port tax levy from 2022. Excluding the new
construction and refund amount, the increase is $317,492 or 0.4 percent from 2022 for tax filing
purposes. The Port’s estimated levy rate is $0.0945 per thousand of assessed value for 2023.
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 2023 Budget on November 29, 2022, staff has provided 8 briefings
to the Commission. The preliminary 2023 Budget was provided to the Port Commission on
October 18, 2022 and made available to the general public on October 20, 2022. An
COMMISSION AGENDA – Action Item No. 10b Page 2 of 2
Meeting Date: November 29, 2022
Template revised September 22, 2016.
announcement of the preliminary budget and public hearing was made in the Daily Journal of
Commerce newspaper on October 26, 2022 and November 2, 2022.
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 2023
Budget and Draft Plan of Finance will be released to the public the week of December 5, 2022.
ATTACHMENTS TO THIS REQUEST
(1) Draft Resolution No. 3806
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS
November 8, 2022 – Introduction and Public Hearing of 2023 Budget
November 8, 2022 – Introduction and Public Hearing of 2023 Tax Levy Increase
October 25, 2022 – 2023 Tax Levy and Draft Plan of Finance for 2023-2027 Briefing
October 11, 2022(PM) – Maritime and EDD CIP and Operating Budgets Briefing
October 11, 2022 (AM) – Aviation Division CIP and Operating Budgets Briefing
September 27, 2022 – 2023 Central Services Preliminary Budget and Portwide Rollup Briefing
August 1, 2022 – Commission Budget Planning Retreat
July 26, 2022 – 2023 Budget Development Briefing
June 14, 2022 – Commission Budget Planning Retreat
