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December 17, 2024
RICHLAND, Wash. – Port of Benton’s 2025 budget is balanced and includes significant investments in essential infrastructure and economic development initiatives. The financial plan also provides tax relief for port district taxpayers and anticipates a $140,000 net surplus.
Highlights of the budget include:
- Balanced Budget: The port projects a net surplus of $140,000 through prudent fiscal management.
- Property Tax Reduction: The port’s property tax levy rate will decrease for the seventh consecutive year, with a 17% reduction for taxpayers since 2019.
- Revenue Growth: Operating revenues are expected to rise by 3%, from $7.4 million to $7.7 million.
- Strategic Investments: Grants will fund 64.6%, or $10.5 million, of the planned $14.7 million in capital projects, including critical rail repairs and improvements, airport enhancements (pending Federal Aviation Administration funding) and maintenance at Crow Butte Park. Property tax revenues, carryover project dollars from the prior and sales of other port assets will fund the remainder of project costs.
“The budget demonstrates the port’s dedication to fiscal responsibility, transparency and operational excellence,” said Jeff Lubeck, port finance director. “Our focus remains on fulfilling our economic development charter by investing in public assets and creating opportunities that benefit our community and the continued growth of the region’s industries.”
Port of Benton’s Commission approved the budget following a public hearing at its Nov. 13 meeting. Read the 2025 Port of Benton Budget on the port’s website at portofbenton.com/about-the-port/planning-and-finance.
About Port of Benton
Port of Benton drives economic growth, development and private-sector investment in its district and the broader region through innovative projects and infrastructure improvements. The port’s airports, business parks, industrial facilities and tourism and recreation attractions further enhance the region’s economic vitality.
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Summers Miya
Public Information Officer
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