Lloyd Hara for King County Assessor

Today we held the line, adopting a final 2009 Budget that keeps property taxes at the 2008 level of $75.9 million.  It was my pleasure to introduce this motion and see it pass the Port Commission on a decisive 4-1 vote.

As many of you know, an earlier Budget draft would have raised millions more on account of an expanding tax base.  And as many of you let us know in no uncertain terms, part of that expanding base is an illusion.  Assessments rose with the real estate boom, but have not yet caught up with the housing bust.  (Today’s action cuts the levy rate by about 12%, to 19.7 cents per $1,000 of assessed value.)

We are thankful for Commission President John Creighton’s strenuous effort on this front. How strenuous?  This Fact Sheet (pdf) may give you some idea.  Remember, your Port is an engine of economic stimulus, creating local jobs in trade, travel, and capital construction.  Remember, too, that we are pushing forward with long-term projects in the worst imaginable bond market.

We have so much more to be thankful for.  The 3rd runway is open at long last.  A major container shipping line (Maersk) has decided to switch from Tacoma to Seattle.  And our 2nd Annual Harbor Party on November 12th was a rousing success!

Thanks to all of you who joined us for the event at China Harbor.  The weather was awful, and the crowd still exceeded expectations.  Thanks to you who maneuvered through competing events to spend a little time with us.  Thanks to you who RSVP’d, you who dropped in, you who were with us in spirit, and you who arrived after the food ran out!

And thanks to all who donate in person, by mail, and online.  We know this is not the easiest time to write a check.  Signs all around us point to hard times ahead — storefronts closed, parking spaces open, hours cut back, eateries empty.   We’ll get through it together, but everyone has qualms about parting with that next dollar now, never knowing how bad it might be needed later.

In this regard, I am especially gratified that so many chose to contribute.  Through thick and thin, your unwavering support puts us in position to continue in 2009 the work we took on in 2005.

Thank you so very much, and Happy Thanksgiving, one and all.

Lloyd Hara

Filed under: Port News, Uncategorized