HomeMy WebLinkAboutResolution No. 2010-33h clot
BEND ALASKA
A RESOLUTION OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, FIXING THE
RATE OF LEVY OF PROPERTY TAX FOR THE FISCAL YEAR COMMENCING JULY 1,
2010 AND ENDING JUNE 30, 2011.
WHEREAS, the Code of the City of Kenai requires 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 2011 Annual Budget," which
estimates property tax revenue based upon a tax rate of 3.85 mills.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF KENAI,
ALASKA, the rate of levy of property tax for the fiscal year commencing July 1, 2010
and ending June 30, 2011 be fixed at 3.85 mills.
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this seventh day of
June, 2010.
Al PEST:
Ac Ad st
Carol L. Freas, City Clerk
Approved by Finance:
CITY OF KENAI
RESOLUTION NO. 2010 -33
Suggested by: Administration
PAT PORTER, MAYOR
the u'yaf
KENA� SKA
"Vi/laye with a Past, y with a Future"
FINANCE DEPARTMENT
210 Fidalgo Avenue, Kenai, Alaska 99611 -7794
Telephone: 907 283 -7535 ext 221 FAX: 907 283 -3014
To: Rick Koch, City Manager
From: Terry Eubank, Finance Director
Date: June 2, 2010
Re: Resolution 2010 -33 Fixing the Rate of Levy of Property Tax for
As required by KMC 7.25.010 (d) the Council shall, after passing the operating budget, fix the
rate of tax by June 10 of each year via resolution. Resolution 2010 -33 is presented to fix the
FYI1 mill levy at 3.85 mills or $385 on $100,000 of assessed value. 3.85 mills represents a
reduction of 0.15 mills from the FYI O rate. The decrease in revenue from the mill rate reduction
is approximately $67,000. A breakdown of property tax revenue at 3.85 mills is as follows:
Revenue Dependent on Mill Levy
Real Property Tax $2,244,150
Personal Property Tax 141,570
AS 43.56 Oil and Gas Property Tax 86,508
Revenue Independent of Mill Levy
Delinquent Real Property Tax 25,000
Delinquent Personal Property Tax 1,200
Motor Vehicle Tax 90,000
Interest on Delinquent Property Taxes 10,000
Total Property Taxes $2.598