COMMISSION 
AGENDA MEMORANDUM                        Item No.          10b 
BRIEFING ITEM                             Date of Meeting     November 10, 2020 
DATE:     October 28, 2020 
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. 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 Introduction of, and hold a public hearing regarding, 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 Introduction and public hearing of the preliminary 2021 Budget on November 10,
2020, staff has provided 9 briefings to the Commission. The preliminary 2021 Budget was

Template revised April 12, 2018.

COMMISSION AGENDA  Briefing Item No. 10b                                 Page 2 of 2 
Meeting Date: November 10, 2020 
provided to the Port Commission and made available to the general public on October 20, 2020.
An announcement of the preliminary budget 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)   Draft Resolution No. 3780 
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS 
October 27, 2020  2021 Tax Levy and Draft Plan of Finance Briefing 
October 13, 2020  2021 Maritime and 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 









Template revised September 22, 2016.