MEMORANDUM

TO: Timothy Navarre, Assembly President

Members, Kenai Peninsula Borough Assembly

THRU: Dale Bagley, Mayor

FROM: Jeffrey Sinz, Finance Director

DATE: May 23, 2002

SUBJECT: Resolution 2002-xxx setting the rate of levy for tax year 2002

The attached resolution establishes the property tax rates for tax year 2002. The tax revenue generated from these rates will provide the largest single source of funding for the borough's FY2003 budget.

The administration is proposing the following changes from the 2001 tax year levels:

2001 Proposed 2002

General Fund 7.00 6.50

Anchor Point Fire & Emergency Medical Service Area 1.20 2.00

All other tax rates are proposed to remain the same.