Be it ordained by The City of Seattle as follows:

Section 1. There is levied a tax on all taxable property, both real and personal, within The City of Seattle and subject to taxation under the laws of the State of Washington in the estimated amount of $954,992,527. This amount includes:

A. Levies whose amounts this ordinance increases by one percent over the prior year’s amount, in accordance with the limit factor in chapter 84.55 RCW:

- Levy for general municipal purposes, authorized by chapter 84.52 RCW

- Low-income housing, authorized by Ordinance 126837

- Transportation, authorized by Ordinance 127053

- Democracy Vouchers, authorized by Ordinance 127204

- Families, Education, Preschool, and Promise, authorized by Ordinance 127238

B. Levies pursuant to newly enacted ordinances:

- Library maintenance and services, authorized by Ordinance 127419, in the first-year amount of $68,537,143

C. Other levies:

- Firefighters’ Pension Fund, authorized by RCW 41.16.060 as $0.225/$1,000 of estimated assessed value

- Additional dollar amounts from estimated increases in assessed value resulting from new construction, improvements to property, newly-constructed wind turbines, biomass, and geothermal facilities, any increase in the value of state-assessed property, and increment value, as authorized by RCW 84.55.010(1)(a)-(e)

- Refunds as authorized by RCWs 84.55.070, 84.68.040, and 84.69.180, in the highest lawful amount that the King County Assessor certifies

Section 2. The King County Assessor shall reduce any amount in Section 1 of this ordinance as necessary to comply with law.

Section 3. The one percent increase authorized in subsection 1.A of this ordinance and the increase in assessed value from subsection 1.C of this ordinance are available for any City purpose for which the City’s regular levy may be applied, and they may be deposited in any appropriate fund for those purposes, except to the extent another ordinance explicitly states otherwise.

Section 4. A separate tax of $16,149,550, applicable to all taxable property within The City of Seattle, is levied to raise revenue to provide for the interest on and redemption of voter-approved general obligation bonds for 2027.

Section 5. The provisions of this ordinance are declared to be separate and severable. The invalidity of any clause, sentence, paragraph, subdivision, section, or portion of this ordinance, or the invalidity of its application to any person or circumstance, does not affect the validity of the remainder of this ordinance or the validity of its application to other persons or circumstances.

Section 6. Any act pursuant to the authority of this ordinance taken after its passage and prior to its effective date is ratified and confirmed.