taxes

The Kenai Peninsula Borough wants to limit how much property assessments increase each year in response to recent, significant year-over-year surges.

The borough is spending more than $20,000 to remind taxpayers of the Feb. 15 deadline with mailers.

As passed earlier this month, the ordinance capped senior property tax exemptions at $375,000.

Currently, eligible property owners can exempt the first $50,000 of their property’s assessed value from borough taxes. If the ballot proposition passes, that exemption would increase to $75,000.

The nonbinding resolution would have asked the Alaska Legislature to give local governments permission to cap how much a property’s assessed value changes year to year to five percent.

The city estimated the exemption would have saved the average resident $25 per year and cost the city about $15,000 in lost tax revenue.

A new property tax exemption in Kenai could save business owners up to $435

Nikiski Republican Rep. Ben Carpenter has released a bill that would levy a 2% statewide sales tax, part of a broader policy plan to fill the state's revenue gaps.

The city of Kenai is preparing its fiscal year 2021 budget with several areas of economic strength but still will likely need to implement a tax increase…

This week, the city of Soldotna will hold a special election for mayor on December 17th. The election comes a little more than three months after the…