Port of Vancouver USA Board of Commissioners approves 2018 budget
The commission voted to hold the port levy steady for the sixth year in a row, meaning annual taxes on a $324,000 home – the median price in Clark County – will be approximately $98 in 2018.
At $68.5 million, the port’s 2018 budget is $16.7 million less than its 2017 budget. The decrease is primarily due to the completion of major components of the port’s West Vancouver Freight Access (WVFA) project and Centennial Industrial Building.
Budget highlights include:
- $38.22 million in operating revenues, an increase of three percent from the estimated 2017 operating revenues.
- Seventy percent of the 2018 operating revenue is from marine, terminal and rail operations, and the remaining thirty percent from industrial property leases, rail and facilities.
- Twenty-two percent of the port’s capital budget is allocated for the completion of the WVFA project. Thirty-six percent is allocated for maintaining port infrastructure and IT systems. The remainder is allocated to various waterfront, facility and terminal improvements.
Visit the Port of Vancouver’s budget Web page for more about the 2018 budget, the budgeting process, how tax dollars are invested in the community and more.
– POV –
The Port of Vancouver USA is one of the major ports on the Pacific Coast, and its competitive strengths include available land, versatile cargo handling capabilities, vast transportation networks, a skilled labor force and an exceptional level of service to its customers and community. For more information, please visit us at www.portvanusa.com.