- Alaska Statutes.
- Title 38. Public Land
- Chapter 5. Alaska Land Act
- Section 105. Periodic Rent Adjustments.
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. Compensation Relating to Easements or Rights-of-Way Across State Leases. [Repealed, Sec. 1 Ch 203 SLA 1975].
AS 38.05.105. Periodic Rent Adjustments.
- (a) Each lease shall stipulate that at five-year intervals as specified in the lease the annual rent payment or other form
of lease compensation specified by the commissioner is subject to adjustment. Changes or adjustments shall be based
primarily on changes in the lease's fair market value. However, if the commissioner determines that single-family
residential development is the best use of the land, the reappraisal period may be lengthened or the readjustment
waived in accordance with regulations adopted by the department. Before a waiver of rent adjustment is issued, the land
shall have a current reappraisal. A waiver is valid only if single-family residential development actually occurs. The
regulations adopted under this section shall ensure that the state receives a fair return from the land.
- (b) [Repealed, Sec. 37 ch 2 FSSLA 1992].
- (c) Changes or adjustments of annual rent on land under lease and used for single-family residential purposes in an area
zoned for commercial or other nonresidential uses shall be based on an adjusted fair market value determined by
reference to the actual use of the property and not by reference to the other uses permissible under the zoning
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