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Copyright vEsti24
May 29 2009
Assembly Tries to Avoid Mill Rate Increase PDF Print E-mail
Friday, 29 May 2009

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            The Kodiak Island Borough Assembly continued discussion of, and possible adjustments to, the fiscal year 2010 budget at its work session Thursday night. The assembly specifically concerned itself with how to avoid a property tax increase of a quarter-mill. The money from the increase would go to pay down bonds approved by voters for the new swimming pool in 2007.

 

            Borough Finance Director Karl Short pointed out that in November 2004, voters passed a proposition authorizing the issue of a general obligation bond. It was estimated at that time that borough would have to increase the property tax by about a one-third of a mill to pay for it. Short explained the discrepancy and put the point-two-five mill increase in perspective in terms of increased property taxes.

--         (Mill Rate 1                27 sec.             "The reason it's not the ... only be like 40 bucks a year.")

            Assemblyman Jerrol Friend said that he's been asked repeatedly why the borough needs to raise the mill rate. Borough Mayor Jerome Selby referred people back to the 2004 vote for the answer to that question.

--         (Mill Rate 2                32 sec.             "We've got to jog folks' memory ...  well, you voted for this.")

            Assemblywoman Pat Branson said assembly members have likely all heard similar questions. She said it's important that people understand the reasons behind the increase.

--         (Mill Rate 3                14 sec.             "When you see the headline ...  bond issue and the amount.")

            In order to avoid increasing the mill rate, the assembly determined that it would have to make up some 250-thousand dollars in the overall budget. After much discussion, the assembly determined that shifting some funds, a possible 220-thousand dollars in stimulus funds and the elimination of a proposed enforcement officer would be sufficient to accomplish that goal. Short explained this approach in detail and how the ordinance could be done at a rate of 10.5 mills, the current rate.

--         (Mill Rate 4                36 sec.             "Increase the revenue sharing ...  20 percent to tourism.")

            The assembly will hold its next regular meeting next Thursday, at which it will make final adjustments to the budget and vote on the ordinance levying taxes.

 

 

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