00                            HOUSE BILL NO. 217                                                                          
01 "An Act relating to the determination of full and true value of taxable municipal                                       
02 property for purposes of calculating funding for education and certain other programs."                                 
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  AS 14.17.510(a) is amended to read:                                                                  
05            (a)  To determine the amount of required local contribution under                                            
06       AS 14.17.410(b)(2) and to aid the department and the legislature in planning, the                                 
07       Department of Commerce, Community, and Economic Development, in consultation                                      
08       with the assessor for each district in a city or borough, shall determine the full and true                       
09       value of the taxable real and personal property in each district in a city or borough.  If                        
10       there is no local assessor or current local assessment for a city or borough school                               
11       district, then the Department of Commerce, Community, and Economic Development                                    
12       shall make the determination of full and true value from information available.  In                               
13       making the determination, the Department of Commerce, Community, and Economic                                     
14       Development shall be guided by AS 29.45.110.  However, the full and true value of                             

01       taxable real and personal property in any area detached shall be excluded from                                
02       the determination of the full and true value of the municipality from which the                               
03       property was detached for the two years immediately preceding the effective date                              
04       of the detachment.  Also, in making the determination for a municipality that is a                            
05       school district, or for a city that is within a borough school district, the assessed                         
06       value of property taxable under AS 43.56 shall be excluded if a tax is not levied                             
07       under AS 29.45.080 by the municipality that is the school district.  The                                      
08       determination of full and true value shall be made by October 1 and sent by certified                             
09       mail, return receipt requested, on or before that date to the president of the school                             
10       board in each city or borough school district. Duplicate copies shall be sent to the                              
11       commissioner.  The governing body of a city or borough that is a school district may                              
12       obtain judicial review of the determination.  The superior court may modify the                                   
13       determination of the Department of Commerce, Community, and Economic                                              
14       Development only upon a finding of abuse of discretion or upon a finding that there is                            
15       no substantial evidence to support the determination.