Port Freeport values transparency. Check out our comprehensive annual reports.
Each year, our commission publishes an annual report of Port Freeport’s business, environmental, and social responsibility accomplishments. You can find and download the reports here, in PDF format.
Click here to find monthly financial updates.
This year's tax levy to fund maintenance and operations (M&O) expenditures does not exceed last year's maintenance and operations tax levy.
As a part of the annual budgeting process, the Port Commission reviews anticipated operating and maintenance requirements necessary to ensure effective utilization and safeguarding of the Port’s facilities. Funding sources for these requirements principally come from either the operating revenues generated from the utilization of the Port’s facilities (the larger source) or from the M&O portion of the tax levy. Based on this review, the Port Commission elected to lower same tax rate from last year ($0.0401 per $100 of appraised value).
The second portion of the Port’s tax levy goes to repay certain debts know as General Obligation Bonds which were previously approved by the voters residing in the Port’s Navigation District. As the debt is repaid the portion of the Port’s tax levy allocated to debt service declines thus allocating a larger portion to M&O expense.
In accordance with state requirements and transparency in governance, we offer the following statement:
PORT FREEPORT DISTRICT ADOPTED A TAX RATE THAT WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST YEAR'S TAX RATE.
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