MEMORANDUM

KENAI PENINSULA BOROUGH

FINANCE DEPARTMENT

To: William Popp, Assembly President

Members, Kenai Borough Assembly

Thru: Dale Bagley, Mayor

From: Jeffrey Sinz, Finance Director

Date: June 6, 2000

Subject: Resolution 2000-40, Setting the Kenai Peninsula Borough Tax Levy for Tax Year 2000 (Fiscal Year 2001)

The attached resolution establishes the property tax rates for tax year 2000. The tax revenue generated from these rates will provide the largest single source of funding for the borough's FY2001 budget.

The administration is proposing that all tax rates continue at their 1999 tax year levels, except for the General Fund mill rate which is proposed to decrease from 8.00 to 7.50 mills, and the Roads Service Area which is anticipating a proposed tax rate increase of 0.5 mills, from 0.50 to 1.00 mills.