- Alaska Statutes.
- Title 34. Property
- Chapter 8. Common Interest Ownership
- Section 720. Separate Titles and Taxation.
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AS 34.08.720. Separate Titles and Taxation.
- (a) In a cooperative, the interest of a unit owner in a unit and its allocated interests is real estate for all purposes,
except that the real estate constituting the cooperative shall be assessed and taxed as a whole and the interest of a
unit owner may not be separately taxed.
- (b) In a condominium or planned community,
- (1) if there is a unit owner other than a declarant, each unit that has been created, together with its interest in the
common elements, constitutes for all purposes a separate parcel of real estate;
- (2) if there is a unit owner other than a declarant, each unit shall be separately taxed and assessed, and a separate tax
or assessment may not be rendered against any common elements for which a declarant has reserved no development rights.
- (c) Any portion of the common elements for which the declarant has reserved a development right shall be separately taxed
and assessed against the declarant and the declarant alone is liable for payment of the taxes.
- (d) If there is no unit owner other than a declarant, the real estate comprising the common interest community may be
taxed and assessed in any manner provided by law.
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