Item Number: __10a.1 reso_______

Meeting Date: November 11, 2025

PORT OF SEATTLE

RESOLUTION NO. 3840

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 an increase of the levy from a budgeted

$88,389,944 to

90,180,054.

WHEREAS,

the Port of Seattle in the Commission has met and considered its

budget for the calendar year 2026; and

WHEREAS,

the Port of Seattle's Commission, after hearing and duly considering all

relevant evidence and testimony presented in a public hearing held pursuant to RCW

84.55.120, has determined the Port of Seattle requires a regular levy in the amount of

90,180,054, which represents the levy rate of approximately $

0.0998 per thousand of

assessed value; and

WHEREAS,

the levy amount includes an increase in property tax revenue from the

previous year to discharge the expenses and obligations of the district in its best interest.

NOW, THEREFORE, BE IT RESOLVED

by the Port Commission of the Port of

Seattle that a property tax levy is hereby authorized in the amount of $90,180,054, an increase

of $1,790,110 (an estimated 2.0 percent increase from 2025). Excluding the new construction

and refund amount, the increase is $295,223 (an estimated 0.3 percent from 2025) for tax

filing purposes.

ADOPTED by the Port Commission of the Port of Seattle at a duly noticed meeting held

this 18th day of November, 2025, and duly authenticated in open session by the signatures of the

Commissioners voting in favor thereof and the seal of the Commission.

Port of Seattle Commission