Tag: 上海水磨IS

Vancouver port may forgo 1 percent property tax hike

first_imgThe Port of Vancouver’s voter-elected leaders may choose to collect less in property taxes than the law allows. They face concerned port administrators, who have cautioned that doing so would reduce the port’s ability to borrow money for economic-development projects.But with a 2011 draft budget that’s about even with the current year’s spending plan, two of the port’s three commissioners — Jerry Oliver and Brian Wolfe — think the port can afford to forgo the 1 percent property tax hike it’s allowed under the law. To do so would cost the port roughly $100,000 and would only save the average household about 76 cents.During a workshop this week to discuss the port’s 2011 budget, Commission President Oliver asked administrators whether the port could “get along without” taking the available 1 percent increase in its property tax levy next year. The port’s finance director, Maggie Smith, replied that the port could probably do that but it would hamper its capacity to obtain loans for port improvements and to use accumulated levy dollars as collateral for those loans. Discussion of property taxes occurred as part of the port’s overall work to craft a budget for next year. The draft spending proposal is largely status quo: It apportions $58.4 million, down roughly 1 percent from 2010, to cover everything from rail and marine operations to information technology and environmental cleanup projects. “We’re running tight now,” said Larry Paulson, the port’s executive director.Initiative 747, approved by state voters in 2001, imposed a 1 percent cap on increases in state and local property-tax collections. About 16.5 percent of the port’s budget comes from these taxes, with the rest coming from tenant rents, shipping fees and other non-tax revenue sources. The port’s draft spending proposal includes the 1 percent it is allowed, increasing property-tax collections by roughly $100,000 to $9.7 million. That means the owner of a property with an assessed value of $222,785 would pay $89.71 — up 76 cents from last year — for the port’s share of property-tax collections in Clark County.Port commissioners expect to vote on the final 2011 budget on Nov. 9. Oliver said he will propose not taking the 1 percent property-tax increase. “It’s not a big impact, but it’s the principle,” Oliver said. “I certainly don’t want to raise taxes in a down economy.”last_img read more