Wrangell Sentinel -

By Larry Persily
Wrangell Sentinel 

Borough works to reduce need for property taxes to repay bonds

 

September 21, 2022



Officials believe the borough can cover the entire annual debt payment on $3.5 million in school maintenance bonds by taking advantage of strong sales tax revenues and higher federal aid payments — without turning to property taxes.

State lease payments for the community’s jail and investment earnings from Wrangell’s $10 million permanent fund savings account could help reduce the tax cost of the other bond issue on the Oct. 4 municipal election ballot — $8.5 million for rebuild and repair to the rot-damaged Public Safety Building — according to Mason Villarma, borough finance dir...



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