2018 BUDGET APPROVAL BRINGS TAX REDUCTIONS FOR PORT DISTRICT RESIDENTS,
Commission makes decision to move Port closer to financial independence
Longview, WA– Today, Port of Longview’s Board of Commissioners unanimously approved the 2018 Budget, which includes a significant property tax reduction for residents of the Port District. The Commission’s confidence in the Port’s current financial position allowed the 20% reduction from the 2017 lawful levy. This is the second consecutive year the Commission has reduced taxes by 20%.
“The Port is in a healthy financial position that allows us to cut taxes again this year,” said Commission President Doug Averett. “Strong cargo operations and business partnerships have situated the Port in a very favorable position. My fellow Commissioners and I want to share this success with our community.”
Overall, the Port’s 2018 General Fund Operating Budget is $31.1 million and the Capital Projects Budget is $5.1 million. Capitalizing on momentum gained in 2017, the Port plans to invest $952,000 on continued work towards expanding the Industrial Rail Corridor. Also of note, $300,000 is earmarked for Barlow Point infrastructure developments and approximately $152,000 will be invested into a walking path at Willow Grove Park.
The 2018 budget goes into effect January 1, 2018.