Port of Bellingham approves 2025 budget

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The Port of Bellingham has approved its 2025 budget without a one percent property tax levy despite the revenue hurdles it faces.

Port commissioners approved a $36.7 million operating and capital budget, which includes $12.4 million in grants for capital investments, during their meeting on November 19. 

In 2025, the port will prioritize a multi-year project making various improvements to Bellingham Shipping Terminal and upgrading Fairhaven Marine Industrial Park’s stormwater system, according to the port.

While the port is facing a shortfall from the departure of Southwest Airlines from Bellingham International Airport, the port has received a grant to construct an international arrivals terminal for flights to Mexico and Central America. The port also plans to replace an observation tank at the Marine Life Center in Bellingham. 

Operating revenues are expected to decline from $28.7 million to $26.4 million, with the most significant decline in Bellingham International Airport funds. The loss of Southwest Airlines, which made up 40 percent of passenger traffic, decreased aviation revenue 35 percent, from $8.1 million to $6 million. 

The marine terminals division will also have a large revenue decline of $4.7 million to $3.3 million because of the upgrades at the Bellingham Shipping Terminal. 

Without the one percent increase, property taxes will be levied at about $0.12 per $1,000 of assessed value, or $60.95 annually for someone who owns a $500,000 home. Commissioners Ken Bell and Bobby Briscoe voted against the one percent property tax increase, while commissioner Michael Shepard supported it. 

The port approved the budget after holding two public hearings. 

The port operates marinas in Bellingham and Blaine as well as the Bellingham International Airport. The port supports economic development and has 250 industrial and commercial tenants. 

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