How much will new Seattle Transportation Levy cost homeowners?

In a decisive vote, Seattle residents have approved a new Seattle Transportation Levy. Proposition 1 is a property tax measure set to invest $1.55 billion in the city’s transportation infrastructure over the next eight years.

This measure, which received 67% support in Tuesday’s initial count, marks the city’s third major transportation levy since 2006, following successful funding initiatives in 2006 and 2015.

Proposition 1 will provide essential funding for projects across the city, including bridge upgrades, road repairs, new sidewalks, transit enhancements and expanded bikeways.

The levy’s funding will be raised through an eight-year property tax increase, costing approximately $530 annually (around $44 per month) for the owner of a median-value home assessed at $804,000.

This rate translates to $65 per $100,000 (65 cents per $1,000) in assessed property value — an increase of $250 annually over the previous levy, which will expire at the end of this year. However, the new levy allows for potential increases, reaching up to $271 per $100,000 ($2.71 per $1,000), which could bring the annual cost to $2,268 for a median-value homeowner.

According to The Center Square, Seattle homeowners will end up paying an average of more than $2,300 toward city services.

The Press Secretary for The Seattle Department of Transportation Mariam Ali told the media outlet the 65-cent levy rate is called the “mill rate.”

“The mill rate on a given year will increase or decrease based on the total assessed value of all property in the city including residential, commercial, and industrial,” The Center Square stated. “The $2.71 per $1,000 in assessed value rate that was listed on the ballot measure is the calculated city total rate of all existing city levies, including Proposition 1.”

The outlet added the city can’t increase its total rate about the legal limit of $3.60 per $1,000 in assessed value.

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Breakdown of Seattle Transportation levy costs to homeowners

To explain further: The median home value in Seattle is currently $850,272. Multiply that by the $2.71 rate and it equals $2.3 million. Then divide that by $1,000 and it comes out to $2,304 in property taxes paid to Seattle in 2025.

The biggest portion of the levy, $330 million, will go toward roadway maintenance, according to The Center Square.

Mayor Bruce Harrell celebrated the levy’s approval as a cornerstone of his “One Seattle” vision, which emphasizes a safer and more connected transportation network for the city’s diverse neighborhoods.

“Tonight’s results demonstrate that Seattle voters are committed to advancing a safer transportation system that benefits all,” Harrell said. “We worked diligently with community members and the City Council to develop a comprehensive plan that emphasizes safer streets, dependable transit and freight movement, and improved connections across Seattle’s neighborhoods to schools and light rail.”

The City Council unanimously endorsed the levy, adding $100 million to Harrell’s original proposal.

Councilmember Rob Saka, who chairs the Council’s Transportation Committee, praised the city’s residents for backing the levy, emphasizing its potential to improve Seattle’s transportation infrastructure for years.

“I want to thank Seattle voters for approving the 2024 Transportation Levy,” Saka stated. “The Mayor’s Office and my colleagues on the Council worked hard to ensure that the transportation projects included in the levy would meet Seattle needs now, but also invest in the future.”

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Despite broad support, some critics voiced concerns over the levy’s financial implications. In a joint statement, Nina Martinez, Chair of the Latino Civic Alliance, Margaret Pageler, former City Council President, and Alex Pedersen, former chair of the Transportation Committee, criticized the measure, focusing on affordability and accountability.

They argued that the levy would significantly raise taxes, with little input from residents on how funds should be spent.

“We achieved our goal to inform the city we love about the costs, inequities, and ineffectiveness of Seattle’s poorly conceived transportation package,” they stated, urging City Hall to consider a more responsible approach to spending public funds. “It appears that more than 50% of Seattle voters are deciding to increase taxes and rents on nearly everyone in the city and hand those public dollars over to the Seattle Department of Transportation.”

Editors note: This story was originally published November 6, 2024, at 2:15 p.m. It has been updated and republished since then.

Contributing: Julia Dallas, MyNorthwest

Matt Markovich covers politics and public affairs for KIRO Newsradio and MyNorthwest.

Follow @https://twitter.com/mattmarkovich