COMMISSION 
AGENDA MEMORANDUM                        Item No.          10f 
ACTION ITEM                            Date of Meeting     November 16, 2021 
DATE:     November 28, 2021 
TO:        Stephen P. Metruck, Executive Director 
FROM:    Dan Thomas, Chief Financial Officer 
Michael Tong, Director, Corporate Budget 
SUBJECT:  Adoption of Resolution No. 3794, 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 $78,676,344 to $81,036,634 
ACTION REQUESTED 
Request Adoption of Resolution No. 3794: 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 $78,676,344 
to $81,036,634. 
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 2022 budget, Resolution No. 3794 authorizes an increase
of $2,360,290, a 3.0 percent increase in the Port tax levy from 2021. Excluding the new
construction and refund amount, the increase is $966,907 or 1.2 percent from 2021 for tax filing
purposes. The Port's estimated levy rate is $0.112 per thousand of assessed value for 2022. 
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 2022 Budget on November 9,
2021, staff has provided 8 briefings to the Commission. The preliminary 2022 Budget was
provided to the Port Commission on October 18, 2021 and made available to the general public

Template revised April 12, 2018.

COMMISSION AGENDA  Briefing Item No. 10f                                  Page 2 of 2 
Meeting Date: November 16, 2021 
on October 20, 2021. An announcement of the preliminary budget and public hearing was made
in the Daily Journal of Commerce newspaper on October 27, 2021 and November 3, 2021.
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 2022 
Budget and Draft Plan of Finance will be released to the public by December 15, 2021. 
ATTACHMENTS TO THIS REQUEST 
(1)   Draft Resolution No. 3794 
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS 
November 9, 2021  Introduction and Public Hearing of 2022 Budget 
November 9, 2021  Introduction and Public Hearing of 2022 Tax Levy Increase 
October 26, 2021  2022 Tax Levy and Draft Plan of Finance Briefing 
October 12, 2021  2022 Maritime and EDD Operating and CIP Budgets Briefing 
October 12, 2021  Aviation Division CIP and Operating Budgets Study Session 
September 28, 2021  2022 Central Services Preliminary Budget and Portwide Rollup Briefing 
July 29, 2021  Commission Budget Planning Retreat 
July 13, 2021  2022 Budget Development Briefing 
June 3, 2021  Commission Budget Planning Retreat 










Template revised September 22, 2016.