1988-39 Authorizing a One-Time (Single-Year) Reduction to Property Taxes.A RESOLUTION OF THE KODIAK ISLAND BOROUGH ASSEMBLY
AUTHORIZING A ONE -TIME (SINGLE -YEAR) REDUCTION TO PROPERTY TAXES
WHEREAS, the Kodiak Island Borough has received state shared monies
during the previous fiscal year in excess to that which was budgeted;
and
WHEREAS, it was the intent of the state legislative body that the
recipient municipal governments would pass on tax relief for its
citizenry; and
WHEREAS, the Kodiak Island Borough earns hundreds of thousands of
dollars from investment earnings; and
WHEREAS, such future state distributions of excess funds with a
nimum of direction as to their specific use depends upon this action
�•y the various state municipal entities.
NOW, THEREFORE, BE IT RESOLVED that the Borough Assembly of the
1••iak Island Borough does hereby resolve that the current year tax
•ills will indicate the millage as passed and will reflect a line
ntitled "Borough Credit" for an amount of 8.567 mills on the next tax
l•ill.
For example, a $100,000 property with a 13.067 mill levy:
13.067 mills X $100,000 $1,306.70
8.567 mills of State 6 Borough Credit = 856.70
4.50 mills Net Tax Millage $ 450.00
PASSED AND APPROVED THIS 2ND DAY OF JUNE, 1988.
ATTEST:
- I
Boro
Resolution No. 88 - -
KODIAK ISLAND BOROUGH
RESOLUTION NO. 88 -39 -R
By: Mayor Selby
Introduced: 06/02/88
Adopted: 06/02/88
ayor
ding Officer
991 CA,