All coverage
Update

Port rejects tax increase amid revenue challenges

Port of Bellingham commissioners voted Tuesday night to reject a proposed one percent property tax increase for 2025, even as the agency faces significant revenue challenges from the loss of a major airline carrier and ongoing terminal rehabilitation work.

Commissioners Ken Bell and Bobby Briscoe voted against the tax increase, while commissioner Michael Shepard supported it. The decision came during the public hearing for the Port’s 2025 draft budget, which projects operating revenues to decline to $26.4 million from $28.7 million in 2024.

The steepest revenue drop comes from Bellingham International Airport, where the departure of Southwest Airlines in early 2024 has led to a 35 percent reduction in aviation revenue, falling from $8.1 million to $6 million. Southwest previously accounted for 40 percent of passenger traffic at the airport.

The Marine Terminals division also faces a significant revenue decline, dropping from $4.7 million to $3.3 million due to ongoing rehabilitation work at the Bellingham Shipping Terminal. This temporary setback is part of a larger investment strategy, with $20.3 million budgeted for terminal improvements in 2025.

Legal expenses are increasing in 2025, primarily due to labor negotiations. “Two labor contracts are expiring at the end of the year,” explained Mike Hogan, public affairs administrator. “Typically, we don’t have two contracts expiring at the same time, so this is unusual.”

This timing has led to an increase in the Human Resources legal budget from $90,000 to $135,000.

Despite these challenges, some divisions show resilience. The Marinas division projects a five percent revenue increase to $11.6 million, while the Real Estate division expects to maintain stable revenues at $7.7 million.

Looking ahead, the Port is investing in several major capital projects. Beyond the shipping terminal rehabilitation, a new rail spur project will begin design work with $750,000 budgeted for 2025, part of a $17.2 million total project cost. Additionally, $3.5 million is earmarked for stormwater improvements at Fairhaven Marine Industrial Park.

The Port is working to control expenses in response to revenue challenges. The airport division is reducing expenses from $7.8 million to $7.2 million, while Marine Terminals is cutting from $3.3 million to $3.0 million.

Port staff will need to revise the budget to reflect the commissioners’ decision on property taxes before final adoption later this year.

Wednesday, November 6, 2024