CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
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AN ORDINANCE relating to the SODO Parking and Business Improvement Area; changing the assessment rate and exemptions; and amending Ordinance 125678, as previously amended by Ordinance 126191.
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WHEREAS, in 2018, through Ordinance 125678, the City established the SODO Parking and Business Improvement Area (BIA), providing for the levy of special assessments upon businesses and property owners within the SODO BIA for the purpose of enhancing conditions for operation of those businesses and properties; and
WHEREAS, in 2020, the City passed Ordinance 126191, modifying the basis for the 2021 assessment values due to the COVID-19 pandemic; and
WHEREAS, the SODO district is a vital employment and industrial hub, with more than 45,000 people commuting into the area daily, and drawing hundreds of thousands of visitors to its commercial, industrial, sports, and entertainment venues; and
WHEREAS, the City finds that many tax-exempt properties benefit from BIA services to the same proportional degree as properties that are currently assessed; and
WHEREAS, the City recognizes that the lot square footage rate for government-owned properties with commercial tenants has not adjusted for inflation or appreciation since 2018; and
WHEREAS, the City finds that assessing properties based on Total Appraised Value, instead of Total Taxable Value, would more accurately and equitably reflect the level of benefits received by ratepayers; and
WHEREAS, in 2022 and 2024, significant delays in the King County Assessor's data release forced the SODO BIA to bill based on incomplete information, resulting in the need to back-bill or issue refunds to correct underassessments or overpayments, at significant burden to the SODO BIA and its services to ratepayers; and
WHEREAS, amending Ordinance 125678 is necessary in the short term to streamline operations, promote greater equity among all ratepayers, and maintain...
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