PORT ANGELES — The city will lose as much as $71,000 in property taxes in each of the next three years as the result of a 2002 property tax settlement between Clallam County and Nippon Paper Industries USA Co. Ltd., formerly Daishowa America Ltd.
City staffers are studying how the city should make up the shortfall and will make a recommendation at a City Council meeting next month, said city Finance Director Yvonne Ziomkowski.
The estimated $71,000 will come from the city’s $14.1 million general fund budget which pays for the Police, Fire, Public Works, Community Development and Parks and Recreation departments.
Ziomkowski said the amount the city must cut from its 2004 budget depends upon the city’s final assessed valuation for 2003.
But it could be between $60,000 and $71,000, she said.
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The rest of the story appears in Tuesday’s Peninsula Daily News.
