Port of Woodland includes tax reduction in 2012 Budget

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For Immediate Release
December 16, 2011
Contact: Nelson Holmberg, executive director nholmberg@portofwoodland.com

WOODLAND, Wash. – At its regular meeting on Thursday night, the Port of Woodland Board of Commissioners adopted the port’s 2012 budget with a 9.3 percent reduction in the property tax the port receives.

In approving the financial plan, which totals $1,066,647.77 in 2012 – up from $990,918.24 in 2011 – the port commission was pleased to see the revenues earned from property and building leases in the port’s agricultural and industrial land and buildings.

Lease revenue is projected to reach $654,292 in 2012. Add a guarantee of $100,000 in sand sales, and tax and fee revenues and the port’s total revenue balances with the expense side of the budget.

The port commission also adopted a Resolution to request a tax levy of $200,000 in 2012, which is $16,000 less than 2011, and reduces the tax rate from 19 cents per $1,000 of assessed value in 2011 to 18 cents per $1,000 in 2012.

“It is one of the commission’s stated goals to reduce the port’s property tax each year, if possible,” Executive Director Nelson Holmberg said. “The commission also has set a policy that we only use these taxes to pay for capital development, debt repayment or environmental cleanups, and we have development plans for 2012.”

Revenue growth is shown in the 2012 preliminary budget is due to the port’s ability to attract new tenants in 2011. In August, Noahs Ark Charters moved into the port’s 17,700 square foot building on Schurman Way, and with a new tenant coming next week, the port currently has a 100 percent occupancy rate in its light industrial space.

The 2012 port budget includes expenses planned for a comprehensive maintenance review and repairs (as needed) at the Down River Drive Industrial Park and a road improvement project in the light industrial area. The port also expects to use outside services for a 2012 feasibility study for construction of a boat launch.

ABOUT THE PORT OF WOODLAND
The Port of Woodland owns more than 300 acres of property for light industrial and recreational opportunities in south Cowlitz County along the Columbia and Lewis rivers. The port’s location provides easy access to Interstate 5, rail transportation on the BNSF Railway north‐south mainline, and is close to deep draft marine terminals at three major shipping ports. The Port of Woodland is also less than 30 minutes from Portland International Airport and is included within the Portland‐Vancouver USA metropolitan statistical area (MSA).

 

 

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