1988-39 Authorizing a One-Time (Single-Year) Reduction to Property Taxes.By: Mayor Selby
Introduced: 06/02/88
Adopted: 06/02/88
KODIAK ISLAND BOROUGH
RESOLUTION NO. 88-39-R
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
.g the previous fiscal year in excess to that which was budgeted;
WHEREAS, it was the intent of the state legislative body that the
,fent municipal governments would pass on tax relief for its
:itizenry; and
WHEREAS, the Kodiak Island Borough earns hundreds of thousands of
lars from investment earnings; and
WHEREAS, such future state distributions of excess funds with a
imum of direction as to their specific use depends upon this action
the various state municipal entities.
NOW, THEREFORE, BE IT RESOLVED that the Borough Assembly of the
iak Island Borough does hereby resolve that the current year tax
is will indicate the millage as passed and will reflect a line
titled "Borough Credit" for an amount of 8.567 mills on the next tax
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.
ough Mayor
P ding Officer
Resolution No. 88-39-R