HB 455: "An Act relating to the assessment of farm or agricultural land for purposes of municipal taxation; and providing for an effective date."
00 HOUSE BILL NO. 455 01 "An Act relating to the assessment of farm or agricultural land for purposes of 02 municipal taxation; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 29.45.060(b) is amended to read: 05 (b) An owner of farm use land shall, to secure the assessment under this 06 section, apply to the assessor before May 15 of each year in which the assessment is 07 desired. The application shall be made upon forms prescribed by the state assessor for 08 the use of the local assessor, and must [SHALL] include information that may 09 reasonably be required to determine the entitlement of the applicant. If the land is 10 leased for farm use purposes, the applicant shall furnish to the assessor a copy of the 11 lease bearing the signatures of both lessee and lessor along with the completed 12 application. The applicant shall furnish the assessor a copy of the lease covering the 13 period for which the exemption is requested. This subsection does not apply to a 14 person with an interest in land that is classified by the state for agricultural use
01 or that is restricted by the state for agricultural purposes. 02 * Sec. 2. AS 29.45.060 is amended by adding a new subsection to read: 03 (f) All land that is classified by the state for agricultural use or that is 04 restricted by the state for agricultural purposes shall be assessed on the basis of full 05 and true value for farm use in accordance with this section. 06 * Sec. 3. This Act takes effect January 1, 2003.