Session: State Capitol, Room 24 Juneau, AK 99801-1182 Phone: (907) 465-2186 Fax: (907) 465-3818 Interim: 600 East Railroad Avenue Wasilla, AK 99654 Phone: (907) 373-1842 Fax: (907) 373-4729

Sponsor Statement for HB 217
Municipal Property Assessment and Tax

An Act relating to municipal property assessment and taxation; and providing for an effective date.

AS 29.45.090 and AS 29.45.110 deal with the manner in which property, both real and personal, is assessed and taxed. Currently, under AS 29.45.090(a) all municipalities must assess and tax all property within their boundaries in the same manner.

House Bill 217 eliminates the requirement that municipalities assess and tax all property in the same manner. HB 217 adds a subsection to AS 29.45.110 that permits municipalities to classify property based on use and to apply different rates of taxation, assessment standards, or exemptions for different classes of property.

This bill recognizes that because of their diversity, Alaska's communities operate most efficiently when each can control its municipal functions as much as possible. Taxation is a municipal function. HB 217 simply allows municipalities to exercise self-governance and local control over the manner in which property within their jurisdictions is assessed and taxed.

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