HomeMy WebLinkAboutResolution No. 2011-40t4r city of
KENAI. ALASKA
Suggested by: Administration
CITY OF KENAI
RESOLUTION NO. 2011 -40
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,
2011 AND ENDING JUNE 30, 2012, .
WHEREAS, the Code of the City of Kenai 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 2012 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, that the rate of levy of property tax for the fiscal year commencing July 1,
2011 and ending June 30, 2012 be fixed at 3.85 mills.
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this first day of June,
2011.
PAT PORTER, MAYOR
ATTEST:
Carol L. Freas, City Clerk
Approved by Finance: t
"Village with a Past Ci y with a Future
FINANCE DEPARTMENT
210 Fidalgo Avenue, Kenai, Alaska 99611 -7794
Telephone: 907 - 283 -7535 ext 221 / FAX: 907 - 283 -3014
U' To: Rick Koch, City Manager
'` From: Terry Eubank, Finance Director
Date: May 12, 2011
Re: Resolution 201 1-40
Resolution 2011 -40 will establish the rate of levy of property tax for 2011. The proposed rate of
levy is 3.85 and will result in $385 in taxes being paid for each $100,000 of assessed property
value. The rate is unchanged from 2010 and will generate the necessary property taxes to
support the proposed FY 12 budget.
The Administration recommends delaying action on this resolution until after adoption of
Ordinance 2557-2011 which is scheduled for June 1, 2011.