PORT ANGELES — Port commissioners unanimously approved a $5.4 million 2002 general fund budget at their regular meeting Monday evening.
The Port of Port Angeles operating budget anticipates $5,433,380 in revenue and $5,404,520 in expenses, leaving a $28,860 surplus.
The commissioners also approved a 2002 property tax increase of 5 percent, using a 1 percent limit imposed by Initiative 747 plus 4 percent previously unused — or “banked” — property tax capacity.
The 5 percent increase will cost property owners a half-cent per $1,000 assessed evaluation. That’s an extra 75 cents for the owner of a $150,000 home.
The rest of this story appears in today’s Peninsula Daily News Clallam County edition. Click on “Subscribe” to get the PDN delivered to your home or office.