Port cuts size of planned tax boost by $2.2 million
The Port of Seattle’s tax levy will increase 10 percent next year, from $68.8 million to $75.9 million, but Port commissioners voted Tuesday to collect slightly less from taxpayers than they had planned.
The Port reversed its position from two weeks ago, when it decided in a preliminary 3-2 vote to tap taxpayers for $78.1 million. Commissioner Lloyd Hara changed his vote, saying he wanted to make a statement that the Port is “fiscally prudent.”
“It’s not that big of a reduction, but I do think it’s symbolic and significant,” said Commission President John Creighton, who voted with Hara and Alec Fisken in the majority.
A King County home with an assessed value of $400,000 will pay $90 next year in Port taxes, instead of $92.63 as the Port had earlier proposed.
The Port will actually reduce its tax rate by 3 percent next year as a result of Tuesday’s vote, from 23.2 cents to 22.5 cents per $1,000 of assessed value. But because of an overall increase in the assessed value of King County property, the Port will collect more in taxes.
“Any increase in the levy is bad, but less of an increase is better than more of an increase,” Fisken said.
Commissioners Pat Davis and Bob Edwards said they were disappointed in Hara’s reversal. They said Port investments in harbor facilities and environmental cleanups would suffer, and protested by voting against adopting the Port’s 2008 budget. “This is a very shortsighted move to demonstrate something,” Edwards said.
Davis said Hara’s decision wouldn’t be so frustrating if the Port hadn’t recently decided to spend $103 million to buy a 42-mile Eastside rail corridor. “This is kind of like going to war and cutting taxes,” she said.
Bob Young: 206-464-2174 or byoung@seattletimes.com