By Marissa Luck, November 26, 2014, The Daily News
Rising property values will give a small boost to the Port of Longview next year, making more money available for a major projects such as Willow Grove Park improvements.
The port’s property tax levy will generate $3.22 million in revenue in 2015, up from $3.1 million in 2014, according to the port.
The levy finances major capital projects such as the Berth 4 renovations and a new storm water treatment system. The capital budget, which the port commissioners adopted Tuesday, also allots $250,000 toward improvements at Willow Grove Park, which the port recently agreed to take over management from Cowlitz County.
Under state law, the port cannot levy a tax in excess of 45 cents per $1,000 of assessed value. Next year’s tax rate will be 44 cents per $1,000, or $67.50 on a $150,000 home.
The port’s operating budget — also adopted Tuesday — projects revenues from cargo moving and other dock activity to total $36.25 million, a 2 percent boost over projected 2014 income. The port’s operating expenses — staff, longshore labor, maintenance and other costs— is forecast to total $28.64 million, up from $27.2 million last year. The port expects to earn a net profit of $3.9 million, down from a projected $5.2 million this year.
Most port staff will see a 2 percent cost of living adjustment in salaries next year.