Enrolled SB 63: Relating to municipal property taxation in annexed, detached, and newly incorporated areas.
00Enrolled SB 63 01 Relating to municipal property taxation in annexed, detached, and newly incorporated areas. 02 _______________ 03 * Section 1. AS 29.05.140 is amended by adding a new subsection to read: 04 (f) Unless the incorporation takes effect on January 1, the newly incorporated 05 municipality may not levy property taxes before January 1 of the year immediately 06 following the year in which the incorporation takes effect. 07 * Sec. 2. AS 29.06 is amended by adding a new section to read: 08 Sec. 29.06.055. Property taxes in annexed or detached areas. (a) Unless 09 the annexation takes effect on January 1, the annexing municipality may not levy 10 property taxes in an annexed area before January 1 of the year immediately following 11 the year in which the annexation takes effect. However, notwithstanding other 12 provisions of law, the municipality may provide services in the annexed area that are 13 funded wholly or partially with property taxes during the period before the
01 municipality may levy property taxes in the annexed area. 02 (b) If an area is detached from a municipality, all property taxes that are levied 03 by that municipality on property in the detached area based on an assessment that 04 occurred before the effective date of the detachment remain valid. AS 29.45.290 - 05 29.45.500 apply to the enforcement of those taxes.