Port Townsend schedules 2022 budget hearing

Leader News Staff
news@ptleader.com
Posted 10/27/21

 

The Port Townsend City Council will meet in regular session to hold a public hearing to consider property tax levies.

The hearing is scheduled for 6:30 p.m. Monday, Nov. 1.

City staff …

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Port Townsend schedules 2022 budget hearing

Posted

 

The Port Townsend City Council will meet in regular session to hold a public hearing to consider property tax levies.

The hearing is scheduled for 6:30 p.m. Monday, Nov. 1.

City staff shared preliminary revenue projections for 2022 on Sept. 20, and said revenues in most categories and funds are significantly stronger than revenue estimates in 2020.

Although recovery from the economic impact of COVID is ongoing, revenue estimates are hovering around 2019 levels with an anticipated growth of 2.5 percent for next year, officials said.

The county assessor’s office released property valuations for 2021 in September.

Property values for the city in 2021 are preliminarily assessed at $2.2 billion, a 10 percent increase over values in 2020. New construction in the city is estimated at $17 million.

The city’s preliminary budget was finalized Tuesday, Oct. 26.

The first reading of the 2022 preliminary budget is scheduled for Monday,
Nov. 1.

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