Ferry District reduces property tax for 2010 while preserving existing service

November 10, 2009

Summary

Deferral of ferry demonstration routes frees up funds for more than 180,000 hours of Metro Transit bus service

Story

The King County Ferry District Board of Supervisors voted unanimously at its November 9 meeting to reduce the Ferry District levy for 2010. The adopted levy lowers the property tax rate for the Ferry District to $1.18 million, translating to approximately 1/3 of one cent per $1,000 of assessed valuation to be collected in 2010. This new rate amounts to approximately $1.20 per year for a $400,000 home. The original rate, set in 2007, was 5.5 cents per $1,000 assessed valuation. With King County Metro facing a budget shortfall, this move will allow for more service hours to be put on the streets.

“In light of tight economic times and the transit crisis King County is facing, these savings will allow us to preserve bus service,” said King County Councilmember Jane Hague, sponsor of the proposal. “Estimates show that these savings could translate into more than 180,000 hours of bus service.”

The Ferry District’s levy reduction action provides the option to the King County Council to add a property tax for Metro Transit bus service to offset proposed bus service reductions, without additional financial impacts to King County taxpayers.

The King County Ferry District is a special purpose government created to provide passenger ferry service in King County. The Ferry District’s Board of Supervisors is composed of the members of the King County Council. The King County Marine Division operates the service under the name King County Water Taxi.