Mayor Bronson agrees to help Assembly resolve their budget error

ANCHORAGE, AK - May 2, 2024 - In a commitment to fiscal responsibility and cooperation, Mayor Bronson today highlighted his willingness to work with the Anchorage Assembly to address an oversight in the recent budget process. The budget, passed by the Assembly earlier this week, exceeded the city's tax cap by $605,147 due to a calculation error.

Established in 1983, the Municipality of Anchorage's tax cap aims to moderate the growth of property tax burdens on residents and businesses. It limits the annual increase in total property tax revenue based on a formula that accounts for inflation and population growth.

"While it's unfortunate the Assembly made this error, we will work with them to fix it," said Mayor Bronson. "Anchorage residents expect us to work together to solve problems, and we will do that. Budgets must be legal, adhere to fiscal policies, and protect taxpayers."

The issue started when multiple amendments were assessed incorrectly, leading to a misunderstanding that the budget was within legal limits. In contrast, the budget proposed by Mayor Bronson was designed to be $682,873 under the tax cap, reflecting his understanding of the financial limits and the current economic challenges faced by taxpayers, including continued inflation.

A special meeting has been scheduled for Friday, May 3, 2024, where the Assembly will correct the budget under the guidance of the Bronson Administration.

Mayor Bronson remains committed to working closely with the Assembly to improve the budget process and maintain Anchorage's fiscal integrity.

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​Media Contact
Veronica Hoxie, Communications Director
Office of the Mayor
[email protected]
​907-615-1568

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