Wrangell’s borough assembly is leaving the local property tax rate unchanged for the coming year, and projects bringing in just over $2.1 million from tax payments on properties throughout the borough. The assembly officially levied this year’s tax at its Tuesday meeting.
Wrangell’s mill rate — or the way property taxes are calculated — is 12.75 mills for properties within the borough’s “service area.” That’s the same rate as last year. Properties outside the service area but within the tax zone — in Meyers Chuck, Union Bay, some places out Spur Road, Olive Cove, or Thoms Place — pay 4 mills of property tax.
That means that a property worth $200,000 dollars would pay $2,550 in local property tax inside the service area, or $800 outside the service area.
There are some property tax exemptions in Wrangell for senior citizens and disabled veterans.
Borough assembly documents show the full value of property in the borough, after exemptions, is almost $178 million, an assessed increase of about $18.5 million in the last year.
The City and Borough of Wrangell expects to take in about $2 million from property owners in the service area, and around $60,000 from properties outside the service area this year.
This year’s property taxes are due by 5 p.m. October 15. Property tax revenue is divided up between Public Safety, borough administration, Wrangell’s schools, and the Public Works department. All of the property tax from holdings outside of the service area goes to education.
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