KENAI (AP) -- Kenai residents won't see any increase in city sales or property taxes in the coming fiscal year, the city mayor said.
Mayor John Williams said the city should close the year in the black. The future looks good, too, with the city prepared to expand with industrial growth in the area, Williams said Wednesday during his state-of-the-city address.
The city has lost close to $1.4 million per year in state revenue sharing and municipal assistance since 1985, he said. Since 1991, though, its sales tax revenues have grown by roughly $900,000 per year, and its property tax revenues by roughly $600,000 per year.
Williams attributed that to growth in the economy fostered by projects such as construction of the Alaska Regional Aircraft Rescue and Firefighting Training Center, improvements to the city airport and the sales of city land for private development.
Peninsula Clarion ©2014. All Rights Reserved.