The Port of Vancouver USA Board of Commissioners unanimously approved the port’s tax levy and 2016 budget during a regularly scheduled board meeting on Tuesday.
At $76.9 million, the 2016 budget is $3.7 million less than the port’s 2015 supplemental budget. According to the port, the reduction is largely due to the port using its grants as the West Vancouver Freight Access project wraps up.
Next year’s budget includes $11.3 million in building investments, which include the port’s waterfront redevelopment at Terminal One.
The commission voted to hold the port levy steady for the fourth year in a row, which will result in a slight decrease in property taxes due to the increase of assessed values in the port district.
The port does not anticipate selling any property in 2016.
