PORT TOWNSEND — The Port of Port Townsend commissioners will meet today to determine whether or not to impose a 1 percent tax levy increase.
“It could go either way,” said Deputy Director Jim Pivarnik of the decision, which will be made as part of the regular meeting scheduled for 3:30 p.m. at 375 Hudson St.
“We have the paperwork prepared for whatever they decide.”
By law, the port is allowed to increase its levy rate by 1 percent a year without voter approval.
The port now receives about $865,699 a year.
The increase would net an additional $8,000 a year.
This would increase property taxes 16 cents per $1,000 for a total tax of $32 for a $200,000 property, or about $1.50 more than the current bill.
The tax increase would be reflected on the 2011 property tax bill.
If the port chooses to not assess the additional tax, it can “bank” it, which will allow it to impose the levy within three years.
Pivarnik said the amount raised by the levy is “pretty minor” but will be used to contribute to infrastructure improvement.
The Port of Port Angeles recently approved its own 1 percent increase. That will yield another $24,000 because of the size of the population.
Pivarnik said that the amount of individual tax will depend on the property assessment, and in some cases, the homeowner would pay the same tax amount even with the levy increase in place.