A new report from the Non-Partisan Legislative Research Division is showing property taxes could be on the rise. According to the report, the Municipality of Anchorage would have to significantly increase their property taxes to cover the massive education cuts in Governor Dunleavy's Proposed FY2020 budget. Anchorage property owners on average would see an increase of nearly $1,500 or a 25% hike. This is to compensate for cuts to the base student allocation, required statutory school bond debt reimbursements, and the loss of local contribution limits.
Anchorage would either have to raise their property tax cap or lay off around 1,000 teachers and staff.