Tax values up 0.9 percent: Borough mayor plans to propose one-half mill reduction

Posted: Thursday, March 11, 2010

The Kenai Peninsula Borough's overall taxable value increased 0.9 percent for 2010, a small increase compared to previous years.

This preliminary number will be used to help determine the upcoming fiscal year's budget. Though Borough Mayor Dave Carey said he doesn't see the slight increase having "significant influence" in terms of setting the mill rate, Carey will factor in the assessment when proposing his FY 2011 mill rate reduction to the Kenai Peninsula Borough Assembly in about a month.

"I anticipate a one-half mill reduction," Carey said.

Property tax bills are determined by multiplying a property's taxable value by the mill rate, as set annually by the assembly. Carey has been committed to lowering property taxes since taking office.

The assessments are made considering the region's real estate sales, construction, demolition and changes in tax exemption totals.

The 0.9 percent increase is about what the assessor expected, especially given the real estate market's leveling off.

"We've seen less of an increase in the real estate values," said Borough Assessor Tom Anderson.

Lowell Point Emergency service area saw the largest percentage increase, up 13.6 percent from the previous year. Anderson attributes the jump to revalued land in the area.

Nikiski's fire, senior and north peninsula recreation service areas saw the largest decreases, ranging from 7.1 percent to 8.4 percent below last year's totals. The closing of the area's BP gas-to-liquid facility contributed greatly to the drop.

The assessing staff can review the totals until March 31. Late filed applications are also accepted until March 31.

Taxable values for service areas and the percent change compared to last year:

* Anchor Point Fire and EMS -- -0.4

* Bear Creek Fire -- +8.5

* Central Emergency Services -- +2.2

* Central Kenai Peninsula Hospital -- +1.1

* Central Peninsula Emergency Medical -- -0.5

* Kachemak Emergency -- +0.4

* Lowell Point Emergency -- +13.6

* Nikiski Fire -- +6.2 (excluding BP and Tesoro Refinery)

* Nikiski Senior -- +6.1 (excluding BP and Tesoro Refinery)

* North Peninsula Recreation -- +6.2 (excluding BP and Tesoro Refinery)

* Road Service -- +0.6

* Seward/Bear Creek Flood -- +5.4

* South Kenai Peninsula Hospital -- -1.3

* Homer -- -3.7

* Kachemak City -- +1.0

* Kenai -- +5.6

* Seldovia -- +5.6

* Seward -- +3.0

* Soldotna -- +2.1

Andrew Waite can be reached at andrew.waite@peninsulaclarion.com.



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