HB 217(title am): "An Act relating to the determination of full and true value of taxable municipal property for purposes of providing planning assistance to the Department of Education and Early Development and the legislature, calculating funding for education, calculating school district participating shares for school construction grants, and calculating tax resource equalization payments and excluding from that determination the value of property in certain areas detached from a municipality and the value of certain property involved with oil and gas that is not taxed by a municipality."
00 HOUSE BILL NO. 217(title am) 01 "An Act relating to the determination of full and true value of taxable municipal 02 property for purposes of providing planning assistance to the Department of Education 03 and Early Development and the legislature, calculating funding for education, 04 calculating school district participating shares for school construction grants, and 05 calculating tax resource equalization payments and excluding from that determination 06 the value of property in certain areas detached from a municipality and the value of 07 certain property involved with oil and gas that is not taxed by a municipality." 08 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 09 * Section 1. AS 14.17.510(a) is amended to read: 10 (a) To determine the amount of required local contribution under 11 AS 14.17.410(b)(2) and to aid the department and the legislature in planning, the 12 Department of Commerce, Community, and Economic Development, in consultation 13 with the assessor for each district in a city or borough, shall determine the full and true
01 value of the taxable real and personal property in each district in a city or borough. If 02 there is no local assessor or current local assessment for a city or borough school 03 district, then the Department of Commerce, Community, and Economic Development 04 shall make the determination of full and true value from information available. In 05 making the determination, the Department of Commerce, Community, and Economic 06 Development shall be guided by AS 29.45.110. However, the full and true value of 07 taxable real and personal property in any area detached shall be excluded from 08 the determination of the full and true value of the municipality from which the 09 property was detached for the two years immediately preceding the effective date 10 of the detachment. Also, in making the determination for a municipality that is a 11 school district, or for a city that is within a borough school district, the assessed 12 value of property taxable under AS 43.56 shall be excluded if a tax is not levied 13 under AS 29.45.080 by the municipality that is the school district. The 14 determination of full and true value shall be made by October 1 and sent by certified 15 mail, return receipt requested, on or before that date to the president of the school 16 board in each city or borough school district. Duplicate copies shall be sent to the 17 commissioner. The governing body of a city or borough that is a school district may 18 obtain judicial review of the determination. The superior court may modify the 19 determination of the Department of Commerce, Community, and Economic 20 Development only upon a finding of abuse of discretion or upon a finding that there is 21 no substantial evidence to support the determination.