PORT TO HOLD HEARING ON TAX LEVY MONDAY

According to the staff memo in their agenda: The Port’s general property tax levy limitation is set forth in RCW 53.36.020 Tax Levy – Limitation. The maximum tax rate may not exceed $.4500 per thousand dollars of assessed value. The Port’s current tax rate is $.19865286591 per thousand dollars of assessed value.
Generally, the maximum increase in the annual dollar amount of property taxes levied is 1% of the amount of tax levy from the previous year, plus an additional dollar amount calculated by multiplying the regular property tax levy rate for the preceding year by the increase in assessed value in the Port district resulting from new construction, improvements to property, and any increase in the assessed value of state-assessed property.
The Port is not required to levy the full amount of the maximum 1% increase in property taxes. Rather, the Port may submit a levy certification for the exact same amount of funds it levied in the prior year, or less. If the Port levies less than what it could have levied, the difference is considered “banked” and may be applied to future levies.
The limitations on the levying of regular property taxes are set forth in Ch. 84.55 RCW. At the Commission meeting on October 17, 2016, staff presented preliminary information on estimated property tax revenues for 2017 and the Port’s history of property tax increases since 2009. 2009 was the first year the Port did not take the 1% increase. The Port has a banked capacity of $38,118 through the year 2016. The amount of banked capacity may change slightly from year to year because the highest lawful levy and the actual levy are recalculated annually.
Ordinarily, the Port will calculate the maximum available increase in the annual dollar amount of the tax levy based upon a measure of inflation called the Implicit Price Deflator (IPD). RCW 84.55.005 establishes the tax increase “limit factor,” or the maximum percentage increase, as the lesser of 1% or the percentage change in the IPD. The IPD is a price index similar to the Consumer Price Index and it is computed by the Washington State Department of Revenue. Information provided by the Clallam County Assessor’s Office identified the IPD at 0.953%. Under RCW 84.55.005, the Port is limited to a tax levy amount of 0.953%
See full agenda: http://www.portofpa.com/AgendaCenter/ViewFile/Agenda/11142016-202

THE PORT ISN'T THE ONLY ONE SET TO ACCEPT THE PROPERTY LEVY...CITY IS ALSO CONSIDERING IT ON TUESDAY...
As you recall during their last council meeting, the council moved to accept the proposed tax levy, like sheep lead by a shepherd to slaughter, not one of them voted to oppose accepting the 1% increase.
Well during their meeting on Tuesday they'll pretty much seal the deal, according to the staff memo provided: In accordance with state law, the 2017 Preliminary Budget was filed with the City Clerk on October 20, 2016. In addition, a presentation of estimated 2017 Revenues was provided to Council at a public hearing on October 18th
This is the second public hearing related to the overall 2017 budget, which will focus on property taxes. State law requires that the City levy property taxes before November 30 each year.
Tonight’s public hearing will include an opportunity for comments on:
 2016 Levying of Property Tax for collection in 2017 The City Council by simple majority vote can increase the regular property tax levy by the lesser of one percent or the implicit price deflator (IPD). For 2017 collection, the IPD is below 1%, which means the Council may increase the property tax levy by 1% only by adopting the resolution stating substantial need exists. The resolutions for Substantial Need and the authorization of the 1% increase were passed at the November 1st Council meeting. The estimated value of a 1% increase in property tax collection in 2017 is approximately $44,100. The City is also able to collect property tax on the value of new construction added during the past year. The levy amount will increase based on the value of new construction. The value of new construction, along with the assessed valuation for 2016, has been received by the City; however the value to be refunded to the City for new construction has not been received at this time. The amounts included in the table on the next page are merely estimates at this point.
There is no longer an Excess Levy amount as the Library levy matured in November 2015. This eliminated a voter-approved property tax of approximately $0.20 per $1,000 of assessed valuation beginning January 1, 2016.
See full agenda: http://wa-portangeles.civicplus.com/DocumentCenter/View/3441

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NEWS NOTEBOOK

I thought this message taken from a facebook picture is timely since some folks can't lose gracefully is apt. 

It's ironic to me those who are rioting in the streets are the very folks who feared rioting in the streets if Trump lost! GET OVER IT!

Yes, I voted for Gary Johnson, but you don't see me acting like a spoiled child because Johnson lost do you? So this message fits! Of course I wouldn't use profanity there, but you get the picture.