Saturday, January 31, 2009

Sneak Preview Of $155.71 Million Worth Of Ballot Propositions To Be Considered For The Anchorage 2009 Municipal Election

Update March 9th, 2008: This post has now been superseded; updated post HERE.

The propositions to be placed on the ballot for the Anchorage 2009 Municipal Election, to be held on April 7th, 2009, are beginning to take shape. Information on the election is posted on the Municipality's Election Page.

The propositions, a series of General Obligation (GO) bonds, will be introduced for discussion and public testimony during the February 3rd meeting of the Anchorage Municipal Assembly, which begins at 5:00 P.M. The prospective propositions are included on the published agenda of the meeting (scroll down to paragraph 14, New Public Hearings). Introduction of the propositions will not begin until 6:00 P.M. or later. Propositions approved during this meeting will be enumerated and published on the Municipality's Election Page shortly after the end of the official candidate filing period on February 13th.

The total value of all eight propositions presented below is $155,710,000. If all are passed, the increase in property tax per $100,000 of valued assessment will be $29.40, assuming debt reimbursement is granted where applicable. Without debt reimbursement, the increase would be $44.32.

Bear in mind that this will be partially offset by the fact that the Anchorage School District has retired approximately $46 million in bond indebtedness since April 2008. Visit the Anchorage School District's Bond Page for more detailed information on and explanation of the two school bonds. Read Rebecca Logan's analysis of these bonds on The Alaska Standard. KTUU Channel 2 February 2nd story about the bonds HERE.

Update: On February 3rd, the Assembly cut back on some of the bonds. The changes are posted below in green.

(1). Current Designation: AO 2009-8(S), a proposal to issue $69,880,000 of General Obligation Bonds of the Municipality of Anchorage to pay the costs of capital improvements to Service High School, Eagle River High School and Girdwood K-8 School (addendum).
--- Increase in property tax per $100,000 valuation: With debt reimbursement, $7.27; without debt reimbursement, $18.34.

(2). Current Designation: AO 2009-9(S), a proposal to issue $27,480,000 of General Obligation Bonds of the Municipality of Anchorage to pay the costs of educational capital improvements for Districtwide Building Systems Renewals, Replacements, Renovations and Acquisitions (addendum).
--- Increase in property tax per $100,000 valuation: With debt reimbursement, $3.36; without debt reimbursement, $7.21.

(3). Current Designation: AO 2009-10, a proposal to issue $43,900,000 of General Obligation Bonds of the Municipality of Anchorage to pay the costs of roads, storm drainage and related capital improvements and the question of an increase in the municipal tax cap limitation to pay associated operations and maintenance costs in the Anchorage Roads and Drainage Service Area.
--- Itemized list of projects HERE
--- Increase in property tax per $100,000 valuation: $14.79
--- Increase in municipal tax cap: $2.96
Note: On Feb 3, cut back to $34,200,000.

(4). Current Designation: AO 2009-11, a proposal to issue $2,600,000 of General Obligation Bonds of the Municipality of Anchorage to pay the costs of constructing, renovating and equipping park and trail improvements and recreational facilities, and the question of an increase in the municipal tax cap limitation to pay associated operations and maintenance costs in the Anchorage Bowl Parks and Recreation Service Area, without cost to Chugiak, Eagle River, Girdwood and other taxpayers outside the service area.
--- Itemized list of projects HERE
--- Increase in property tax per $100,000 valuation: $0.79
--- Increase in municipal tax cap: $0.48
Note: On Feb 3, cut back to $1,850,000.

(5). Current Designation: AO 2009-12, a proposal to issue $4,500,000 of General Obligation Bonds of the Municipality of Anchorage to pay the costs of Facilities Renovations and Related Capital Improvements, and the question of an increase in the municipal tax cap limitation to pay associated operations and maintenance costs.
--- Itemized list of projects HERE
--- Increase in property tax per $100,000 valuation: $1.19
--- Increase in municipal tax cap: $1.50
Note: On Feb 3, cut back to $1,500,000

(6). Current Designation: AO 2009-13, a proposal to issue $1,550,000 of General Obligation Bonds of the Municipality of Anchorage to pay the costs of Public Safety and Transportation Improvements and related capital improvements, and the question of an increase in the municipal tax cap limitation to pay associated operations and maintenance costs.
--- Itemized list of projects HERE
--- Increase in property tax per $100,000 valuation: $0.41
--- Increase in municipal tax cap: $2.28
Note: On Feb 3, cut back to $1,300,000

(7). Current Designation: AO 2009-14, a proposal to issue $4,000,000 of General Obligation Bonds of the Municipality of Anchorage to pay the costs of public safety facilities (police) and related capital improvements and the question of an increase in the municipal tax cap limitation to pay associated operations and maintenance costs in the Anchorage Metropolitan Police Service Area.
--- Itemized list of projects HERE
--- Increase in property tax per $100,000 valuation: $1.08
--- Increase in municipal tax cap: $2.11
Note: On Feb 3, cut back to $3,000,000.

(8). Current Designation: AO 2009-15, a proposal to issue $1,800,000 of General Obligation Bonds of the Municipality of Anchorage to pay the costs of fire protection capital improvements and the question of an increase in the municipal tax cap limitation to pay associated operations and maintenance costs in the Anchorage Fire Service Area.
--- Itemized list of projects HERE
--- Increase in property tax per $100,000 valuation: $0.51
--- Increase in municipal tax cap: $0.18

A separate proposal to allow Eagle River Valley voters to vote on a proposal to extend fire services to the upper reaches of the Eagle River Valley failed to be finalized in time for consideration during this election. This proposal would have only affected the property taxes of those living in the proposed area of inclusion.

Note that Anchorage School District funding requests make up 62.5 percent of the total. This correlates with the fact that 46 percent of our property taxes are directed towards ASD. While this may seem disproportionate at first glance, ASD operates 93 different facilities. This likely equals or exceeds the combined total of all other municipal facilities. The disproportionate overhead requires a more disproportionate funding.

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