Anchorage Mayor Dave Bronson announced first quarter budget revision process for the 2022 budget, adding $5.5 million for the Anchorage Police Department and Anchorage Fire Department to fully fund their operations.
The revised budget is $5.8 million under the tax cap and relies on $4.6 million less in property taxes compared to the Fiscal Year 2021 Budget. The mill rate overall goes down 1.34 mills.
The lower mill rate translates into $134 savings per $100,000 of assessed value, or $563.00 on an average priced home of $420,000.
“My budget reduces the property tax burden on homeowners, respects the Charter by staying under the tax cap, and prioritizes public safety for the citizens of Anchorage,” said Bronson. “We are making government leaner, more efficient, and accountable to the people, while keeping our city safe. With record inflation eating away the earnings of our friends and neighbors, I am committed to keeping government spending and property taxes in-check.”
The revised FY 2022 budget will be sent to the Anchorage Assembly for approval. The Assembly must approve the budget by May 1, for mill rates to be set and determine the total amount of property taxes to be collected in 2022.
