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Assemblymember proposes tying borough sales tax cap to inflation; Johnson to keep voter approval clause
Summary
Assemblymember Mike Johnson introduced an ordinance on July 8 to index the borough’s $500 sales tax cap to inflation, raising the cap modestly each year according to the consumer price index.
Assemblymember Mike Johnson introduced an ordinance on July 8 to amend Kenai Peninsula Borough code (KPB 5.18.430) to index the borough’s sales tax maximum (the “cap”) to inflation on an annual basis.
Johnson told the Finance Committee the sales tax cap has not been adjusted since the tax’s adoption in 1965 and has lost most of its purchasing power; his fiscal note used the December 2024 consumer price index (CPI) of 2.2% to show the cap would rise from $500…
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