PORT ANGELES — The news hit like a bombshell last week:
A lawsuit settlement could shift up to $1 million in taxes to homeowners and businesses in the Port Angeles School District.
The settlement — which decreases the overall assessed valuation of property within school district boundaries — will mean only a tiny increase in school taxes this year.
It will be only 3 cents more per $1,000 of assessed valuation.
But the rate could climb higher in 2004.
The settlement also raised a number of questions:
* Will there be an impact on other property taxes being paid to the city and/or county, now or in the future?
School taxes are only part of what a home or business owner pays in total property taxes.
* What does this settlement do to revenue projections for 2003 city and county budgets?
* What were the reasons behind the settlement between Daishowa America Co. Ltd. and Clallam County?
* Daishowa said its paper mill and other properties were overassessed, going from $51.7 million in 1988 to $123.6 million in 1998.
Why did this happen? Will other businesses now appeal their assessments?
* Will tax revenue from new businesses like Westport Shipyard Inc. offset the loss from the settlement?
* What was behind the timing of the settlement?
The surprise news hit right in the middle of the replacement school levy for 2004 and 2005, now being voted on by mail through Feb. 4.
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