The US northwest Port of Seattle is forecasting that operating revenues will reach a record US$443.2 million next year, an increase of nearly $22 million over the amount forecast in the 2006 budget. Expected growth in operating revenue is partly attributed to the port handling greater volumes of grain exports and experiencing higher occupancy rates at its various seaport properties.
"This budget shows many of our key business indicators moving in the right direction," said Port of Seattle Commission president Patricia Davis.
"Business is good, and there's every reason to think it will continue to improve. We're making investments that will increase our cargo and passenger volumes and create jobs and tax revenues that benefit the entire region."Authorities said in a statement that the port's tax levy rate in the 2007 budget will be lowered by a small percentage from the 2006 rate.
Taxes in 2006 were based on 23.33 cents per $1,000 of assessed valuation. In 2007, the rate will be 23.25 cents per $1,000 of assessed valuation."The levy rate is about four cents per $1,000 lower than it was 10 years ago and is generating more economic benefit than ever before," said Ms Davis.
Money raised by the port's tax levy is used primarily for capital and environmental investments at the seaport. A portion of the levy also pays for transportation infrastructure improvements and noise insulation projects in schools near the airport.
"This budget shows many of our key business indicators moving in the right direction," said Port of Seattle Commission president Patricia Davis.
"Business is good, and there's every reason to think it will continue to improve. We're making investments that will increase our cargo and passenger volumes and create jobs and tax revenues that benefit the entire region."Authorities said in a statement that the port's tax levy rate in the 2007 budget will be lowered by a small percentage from the 2006 rate.
Taxes in 2006 were based on 23.33 cents per $1,000 of assessed valuation. In 2007, the rate will be 23.25 cents per $1,000 of assessed valuation."The levy rate is about four cents per $1,000 lower than it was 10 years ago and is generating more economic benefit than ever before," said Ms Davis.
Money raised by the port's tax levy is used primarily for capital and environmental investments at the seaport. A portion of the levy also pays for transportation infrastructure improvements and noise insulation projects in schools near the airport.