City and Borough of Juneau
155 S. Seward Street
Juneau, Alaska 99801
tel. 907-586-5240
fax 907-586-5385
http://www.juneau.org

Finance Department

CBJ Mill Rate

 

The adopted operating mill levy for FY18 is 9.36 mills, which is a decrease from FY17. The debt mill levy is 1.30 for FY18, which is a decrease from FY17. This brings the total FY18 mill levy to 10.66, which is unchanged from FY17.                                    

 

The CBJ has three overlapping taxing areas (Areawide, Roaded and Fire) plus a separate debt service mill levy. Property can be subject to taxation in one, two, or all three of these levies plus the debt service mill levy. Approximately 87.8% of taxable property is subject to the combined overlapping mill levy for the three taxing areas. A levy of one mill, assessed borough-wide, generates approximately $4.8 million in property tax revenues.

 

Understanding the mill rate: One mill is equal to one tenth of one percent (0.1%). In terms of dollars, one mill equals $1 per thousand dollars  in taxable property value. The current mill rate is 10.66. That means that for every $1,000 in taxable property value, there is a tax of $10.66. 

 

In 1995, the CBJ voters approved a 12-mill operational property tax levy restriction on taxable property. This means that the City Assembly cannot raise the mill rate above 12 mills ($12 for every $1,000 in taxable property value) to support general government operations. This restriction does not apply to tax levies for the debt service on general obligation bond . Debt service is the amount required to cover the repayment of interest and principal on voter-approved bonds and is in addition to the operational mill levy.

 

Applying the mill rate: This example assumes $300,000 in taxable property, located in all three operational areas (areawide, roaded, and fire service).

 

$300,000 (property value) = 300 (number of thousands) x $1,000

300 (number of thousands) x 10.66 (total mill rate) = $3,198 (annual property tax)

 

Of that $3,198 in property tax:

$2,808 per year or $234 per month helps support all aspects of local government including

schools, police, fire protection, roads and sidewalks, libraries, parks, recreational opportunities, public transportation, etc.

 

$390 per year or $32.50 per month pays for the voter-approved bonds

 

 

  Adopted
Mill Levy   FY15   FY16   FY17   FY18  
   Operational                  
     Areawide                          6.64          6.70            6.60           6.70  
     Roaded Service Area          2.20          2.20            2.30           2.30  
     Capital City Fire/Rescue          0.42          0.36            0.36           0.36  
       Total Operational          9.26          9.26            9.26           9.36  
                   
   Debt Service          1.50          1.50            1.40           1.30  
                   
       Total Mill Levy       10.76       10.76  
       10.66
 
     10.66
 
Mill Change              -  
         (0.10)
 
-
 
% Change              - %
         (0.93)
%
  -
%
                   

 

Mill Levy History

 

CBJ Image