HomeMy WebLinkAboutResolution No. 2024-19':ENAI
CITY OF KENAI
RESOLUTION NO. 2024-19
Sponsored by: Administration
A RESOLUTION FIXING THE RATE OF LEVY OF PROPERTY TAX FOR THE FISCAL YEAR
COMMENCING JULY 1, 2024 AND ENDING JUNE 30, 2025.
WHEREAS, Kenai Municipal Code requires that the rate of levy of property tax be set annually not later
than the tenth day of June; and,
WHEREAS, the Council has adopted the "City of Kenai 2025 Annual Budget," which estimates property
tax revenue based upon a tax rate of 4.35 mills.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA:
Section 1. That the rate of levy of property tax for the fiscal year commencing July 1, 2024 and ending
June 30, 2025 is fixed at 4.35 mills.
Section 3.
That this Resolution takes effect immediate[
PASSED BY THE COUNCIL OF THE CITY OF KENAI, AL
ATTEST:
is e e _ S e M , City Clerk
New Text Underlined; [DELETED TEXT BRACKETED]
1. NAI
City of Kenai 1 210 Fidalgo Ave, Kenai, AK 99611-77941 907.283.7535 1 www kenaixity
MEMORANDUM
TO:
Mayor Brian Gabriel and Kenai City Council
THROUGH:
Terry Eubank, City Manager
FROM:
Dave Swarner, Finance Director
DATE:
May 24, 2024
SUBJECT:
Resolution 2024-19 Establishing the City of Kenai FY2025 Property
Tax Mill Rate
Resolution 2024-19 will establish the rate of levy of property tax for FY2025, tax year 2024. The
proposed rate of levy is 4.35 and will result in $435 in taxes being paid for each $100,000 of
taxable assessed property value. The rate is unchanged and will generate the necessary property
taxes to support the adopted FY25 budget. The last mill rate change for the City was in FY2015.
Your support is respectfully requested.