CSHB 200(CRA): "An Act relating to the determination of full and true value of taxable property in a municipality; relating to exemptions for municipal property taxes for certain primary residences; relating to property tax equivalency payments for certain residents; and providing for an effective date."
00CS FOR HOUSE BILL NO. 200(CRA) 01 "An Act relating to the determination of full and true value of taxable property 02 in a municipality; relating to exemptions for municipal property taxes for certain 03 primary residences; relating to property tax equivalency payments for certain 04 residents; and providing for an effective date." 05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 06 * Section 1. AS 14.17.510(a) is amended to read: 07 (a) To determine the amount of required local contribution under 08 AS 14.17.410(b)(2) and to aid the department and the legislature in planning, the 09 Department of Community and Regional Affairs, in consultation with the assessor for 10 each district in a city or borough, shall determine the full and true value of the taxable 11 real and personal property in each district in a city or borough. If there is no local 12 assessor or current local assessment for a city or borough school district, then the 13 Department of Community and Regional Affairs shall make the determination of full 14 and true value from information available. In making the determination, the
01 Department of Community and Regional Affairs shall be guided by AS 29.45.110. 02 However, the value of property exempted under AS 29.45.050(i) may not be 03 included in the determination to the extent of the exemption. The determination 04 of full and true value shall be made by October 1 and sent by certified mail, return 05 receipt requested, on or before that date to the president of the school board in each 06 city or borough school district. Duplicate copies shall be sent to the commissioner. 07 The governing body of a city or borough that is a school district may obtain judicial 08 review of the determination. The superior court may modify the determination of the 09 Department of Community and Regional Affairs only upon a finding of abuse of 10 discretion or upon a finding that there is no substantial evidence to support the 11 determination. 12 * Sec. 2. AS 29.45.030(h) is amended to read: 13 (h) Nothing in (j) [EXCEPT AS PROVIDED IN (g) OF THIS SECTION, 14 NOTHING IN (e) - (j)] of this section affects similar exemptions from property taxes 15 granted by a municipality on September 10, 1972 [, OR PREVENTS A 16 MUNICIPALITY FROM GRANTING SIMILAR EXEMPTIONS BY ORDINANCE 17 AS PROVIDED IN AS 29.45.050]. 18 * Sec. 3. AS 29.45.030(k) is amended to read: 19 (k) The department shall adopt regulations to implement the provisions of [(g) 20 AND] (j) of this section. 21 * Sec. 4. AS 29.45.050(i) is amended to read: 22 (i) A municipality may by ordinance approved by the voters wholly or 23 partially exempt from taxation the assessed value [THAT EXCEEDS $150,000] of 24 real property owned and occupied as a permanent place of abode by a resident who 25 is (1) 65 years of age or older; (2) a disabled veteran, including a person who was 26 disabled in the line of duty while serving in the Alaska Territorial Guard; or (3) at 27 least 60 years old and a widow or widower of a person who qualified for an exemption 28 under (1) or (2) of this subsection. An ordinance adopted under this subsection 29 may limit the exemption to only those individuals with financial need as defined 30 in the ordinance. 31 * Sec. 5. AS 29.45.030(a)(6), 29.45.030(e), 29.45.030(f), 29.45.030(g), 29.45.030(i), and
01 29.45.040 are repealed. 02 * Sec. 6. This Act takes effect January 1, 2000.