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Executive praises Ferry District tax reduction
Summary
King County Executive Kurt Triplett today thanked the Metropolitan King County Council acting as the Ferry District Board of Supervisors for dramatically reducing the county Ferry District’s property tax. The action leaves open the possibility of a dedicated Metro transit tax at no net increase to property owners.
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King County Executive Kurt Triplett today thanked the Metropolitan King County Council acting as the Ferry District Board of Supervisors for dramatically reducing the county Ferry District’s property tax. The action leaves open the possibility of a dedicated Metro transit tax at no net increase to property owners.
The Board of Supervisors this week voted to reduce the Ferry District levy to approximately one-third of a cent per $1,000 of assessed value from 5.5 cents per $1,000. The lower assessment will fund the existing passenger-only ferry service to Vashon Island and West Seattle but ends funding for possible demonstration routes on Lake Washington and Puget Sound.
“I congratulate the Ferry District supervisors for taking this important action,” said Triplett. “This vote clears the way to save transit services for millions of riders annually.”
In July, the Executive proposed reprioritizing transportation tax dollars dedicated to ferry demonstration projects so that the county could use new authority granted by the legislature to fund transit service without raising taxes. He included these proposed changes in his 2010 proposed budget.
The Executive proposal would use 4.5 cents per assessed $1,000 plus savings in another program to generate approximately $58 million for transit over the next four years. Triplett proposed that the money be spent on the popular Rapid Ride service that is in jeopardy because of the slumping economy and the resulting decrease in sales tax revenues for transit.
