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 FY17 is 9.26 mills, which is unchanged from FY16. The debt mill levy is 1.40 for FY17, which is a decrease from FY15. This brings the total FY17 mill levy to 10.66, which is a decrease from FY16..                                    

 

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 89.6% 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 $4.4 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:

$2,778 per year or $231.50 per month helps support all aspects of local government including

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

 

$420 per year or $35 per month pays for the voter-approved bonds

 

 

  Adopted
Mill Levy   FY14   FY15   FY16   FY17  
   Operational                  
     Areawide                          6.64          6.64            6.70           6.60  
     Roaded Service Area          2.23          2.20            2.20           2.30  
     Capital City Fire/Rescue          0.39          0.42            0.36           0.36  
       Total Operational          9.26          9.26            9.26           9.26  
                   
   Debt Service          1.40          1.50            1.50           1.40  
                   
       Total Mill Levy       10.66       10.76  
       10.76
 
     10.66
 
Mill Change              0.10  
         0.0
 
        (0.10)
 
% Change              0.94 %
         0.0
%
        (0.94)
%
                   

 

Mill Levy History

 

CBJ Image