CITY OF HOMER

HOMER, ALASKA

Stark, Shadle

ORDINANCE 07-15

 

AN ORDINANCE OF THE CITY COUNCIL OF HOMER, ALASKA SETTING THE PROPERTY TAX RATE (MILL RATE) FOR HOMER, ALASKA FOR FISCAL YEAR 2007 AT 4.00 MILLS.

                                                                                          

            WHEREAS, The City of Homer has previously set its property tax rate for Fiscal Years 2006 and 2007 at 4.50 mills; and

 

            WHEREAS, Since that time assessed values in Homer for Fiscal Year 2006 increased twenty two percent so that a Mill Rate of 4.00 would have brought in excess of the amount budgeted with a mill rate of 4.50; and

 

            WHEREAS, This Council voted in May by a 4-3 vote not to lower the 2006 mill rate to 4.00, resulting in an end of year surplus of almost one million dollars; and

 

            WHEREAS, This means that not only would a lower mill rate have brought in the budgeted amount, but with the 4.50 rate the citizens paid more that they expected and more than many of them could afford; and

 

            WHEREAS, The City is basking in a substantial increase in revenue, and a further increase of seven percent in the assessed value of the City, including sales tax revenue greater than budgeted; and

 

            WHEREAS, If the hospital bond issue passes, the Borough will raise the mill rate between 0.70 and 0.98 mills; and

 

            WHEREAS, The responsibility of a municipal corporation is to take from the citizens only what it needs to perform its services, knowing that the citizens are the wisest stewards of their finances and will supply what the City truly needs.

 

            NOW, THEREFORE, THE CITY OF HOMER ORDAINS:

  

            Section 1.  That the property tax rate (mill rate) for Fiscal Year 2007 is hereby set at 4.00 mills.

 

            Section 2. This ordinance is a budget amendment, is not of a permanent nature, and is a non-code ordinance.

 

 

 

 

 

 

            PASSED AND ENACTED BY THE HOMER CITY COUNCIL this ________ day of ________________, 2007. 

                                                                                   

                                                                                    CITY OF HOMER

 

 

                                                                                    ____________________________

                                                                                    JAMES C. HORNADAY, MAYOR

ATTEST:

 

                                   

 

______________________________

JO JOHNSON, CMC, CITY CLERK

 

 

Introduction:

Public Hearing:

Second Reading:

Effective Date:

 

Ayes:

Noes:

Abstain:

Absent:

 

Reviewed and approved as to form and content:

 

 

___________________________                              __________________________

Walt E. Wrede City Manager                                     Gordon Tans, City Attorney

 

                                  

Date: ______________________                               Date: _____________________

 

 

 

Fiscal Note: Decrease in revenues based on 2006 assessments $251,484.