Mill rate hike may not happen

    Juneau, Alaska (KINY) - The Assembly Finance Committee took up the proposed point 20 mill rate increase during its deliberations Wednesday evening, but there’s a chance the mill rate won’t even need to increase

    That's because property values are going to be higher than what the original manager’s proposed budget accounted for according to Finance Director Jeff Rogers,  He explained to members that the manager included the mill rate hike based on the Assembly's request to cover the cost of long term support of child care."He did that and he did that on the basis that valuations would increase one and a half percent."

    Rogers told the committee that a higher increase is more likely.  "Valuations we believe will not have increased one and a half percent, they will have increased about six and a half percent, up to $5.42 Billion.  So that's the new valuation increase over last year, increase over what we had forecast in the manager's budget just based on a percent and a half."

    So this means an increase to the mill rate might not be needed, since more revenue would be coming in.

    The elected members will be faced with a decision: increase the mill rate as planned, keep the rate at the same 10.66, calculate an entirely new one, or something else?

    The committee took action on vote by mail election funding by forwarding to the full Assembly a proposal to conduct an election similar to last year's election that was conducted with the help of the Municipality of Anchorage.

    The committee also took up Travel Juneau's budget request.

    The panel will continue its work every Wednesday evening until the next budget is finalized which must be completed by June 15 per CBJ code.

     

     

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