CITY OF HOMER

                                                         HOMER, ALASKA

                                                                                                    Stark/Shadle

                                                        ORDINANCE 07-21

                                                                                          

AN ORDINANCE OF THE CITY COUNCIL 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 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 has resulted in a cornucopia of riches; and

 

            WHEREAS, With the passage of the hospital bond issue the Borough will raise the service area (including Homer) mill rate 0.98 mills; and

 

            WHEREAS, The Anchorage Municipality has delayed adoption of its budget and printing of its tax bills as it has declared its plans to reduce its property taxes by the full amount of its State Revenue Sharing; and

 

            WHEREAS, The increase in assessed value in Homer in 2006 and 2007 is equal to 1.30 mills in tax revenue and the increase from State Revenue Sharing this year is equal to .56 mills, a total increase in revenue of 1.86 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 _____________, June 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 as to form and content:

 

 

_____________________                                          _______________________

Walt Wrede, City Manager                                           Gordon Tans, City Attorney

 

Date: ________________                                           Date: __________________

 

 

 

Fiscal Note: N/A