(Cleveland)- Cuyahoga County voters will see a levy renewal for the Port Authority on the November ballot.
The Cleveland-Cuyahoga County Port Authority voted Tuesday to place the renewal on the ballot.
“The Port plays a unique and essential role in our region,” said Port Chair Marc Krantz “We are the only local government agency whose sole responsibility is to spur job creation and economic vitality in Cuyahoga County. The Port Authority operates the international docks that connect our region to the global economy, provides innovative financing solutions that have helped build development projects across Northeast Ohio, and serves as an environmental steward of two key assets: the Cuyahoga River ship channel and the downtown Lake Erie shoreline.”
Proceeds from the renewal of the Port Authority’s levy will be used to sustain and advance strategic initiatives that are essential to protecting and growing the nearly 18,000 jobs and $1.8 billion in annual economic activity that depend on Cleveland Harbor.
(Photo by Colleen O'Neill/WTAM 1100)
Renewing the Port Authority levy will not increase taxes; the tax rate would remain at 0.13 mills, which is the same rate that was set in 1968 when the Port Authority was created and is the smallest countywide tax levy in Cuyahoga County.
Under the renewed levy, property owners will continue to pay $0.29 per month for every $100,000 of assessed value, which will yield approximately $3.1 million annually - roughly 35% of the Port Authority’s annual budget.
The Port Authority’s current levy was passed in 2007 and provided for tax collections through the end of this year. To avoid a disruption in collections, the Port Authority renewal levy would need to be approved by voters in November.
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