Proposition 1 was approved by more than 65% of registered voters in the general election.

The eight-year levy program totals $1.55 billion. The new levy is expected to cost a median Seattle homeowner $530 more per year.

The levy authorizes a tax increase over eight years for collection beginning in 2025 of approximately 65 cents per $1,000 of assessed value. However, the ballot measure says this can go up to a maximum of $2.71 per $1,000. This confuses some readers.

Center Place reached out to the city to understand this explanation on the ballot measure.

Mariam Ali, press secretary for the Seattle Department of Transportation, explained that the 65-cent levy rate is called the mill rate. The mill rate for a given year will increase or decrease based on the total assessed value of all properties in the city, including residential, commercial and industrial properties.

The rate of $2.71 per $1,000 in assessed value that appeared on the ballot measure is the total rate calculated by the city for all existing municipal levies, including Proposition 1.

It is important to note that the City cannot increase its total rate beyond the legal limit of $3.60 per $1,000 of assessed value.

So how much will Seattle homeowners pay for city services next year? Using Seattle’s median home value, which is currently $850,272. Multiply that by the rate of $2.71 and you get $2.3 million. Divide that amount by $1,000 and you get $2,304 in property taxes paid just in Seattle for 2025.

With increased property tax revenues, SDOT will fund high-priority transportation needs.

For example, most of the funding generated – totaling $330 million – will be spent on road maintenance. According to the city, about 15 major corridors should be repaved.

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Another $115 million should be spent on transit improvements on streets with high bus lines and better access to Sound Transit light rail stations. This should better connect Seattle residents to public transportation.

The third largest allocation of levy funds is $111 million to build at least 350 blocks of new sidewalks.