COMMISSION 
AGENDA MEMORANDUM                        Item No.          10b 
BRIEFING ITEM                            Date of Meeting     November 8, 2022 
DATE:     October 21, 2022 
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. 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 Introduction of, and hold a public hearing regarding, 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 Introduction and public hearing of the preliminary 2023 Budget on November 8,
2022, staff has provided 7 briefings to the Commission. The preliminary 2023 Budget was

Template revised April 12, 2018.

             COMMISSION AGENDA – Briefing Item No. 10b                                 Page 2 of 2 
Meeting Date: November 8, 2022 
provided to the Port Commission on October 18, 2022 and made available to the general public
on October 20, 2022. An 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 by December 15, 2022. 
ATTACHMENTS TO THIS REQUEST 
(1)   Draft Resolution No. 3806 
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS 
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 










Template revised September 22, 2016.