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Title 3 . Commerce, Community, and Economic Development
Chapter 130 . Small Municipality Energy Assistance Program
Section 92. Full and true assessed property value determination

3 AAC 130.092. Full and true assessed property value determination

(a) For purposes of determining a municipality's millage rate equivalent under AS 29.60.010 , the department will, under AS 29.60.030 (d) and (e)(1) and (2), determine the full value of property in the municipality, regardless of whether that municipality is a city within a borough.

(b) Not later than October 1 of the computation year, the department will send the determination of full value of property to the mayor of a municipality for which a determination is made under (a) of this section.

(c) The governing body of a municipality may appeal a determination of full value of property made under (a) of this section to the commissioner. The appeal must be in writing and must be postmarked within 15 days after the municipality received the determination sent under (b) of this section. The appeal must include relevant evidence in support of the applicant's claim.

(d) No later than 15 days after receipt of an appeal filed under (c) of this section, the commissioner will decide the appeal. Immediately following the commissioner's decision, written notification, containing a statement of the decision and the reasons for it, will be sent to the municipality.

(e) The governing body of the municipality may obtain judicial review of the commissioner's decision made under (d) of this section.

(f) Following a determination of full value of property under this section for a municipality, the department will determine the full and true value of property for differential tax zones or service areas in that municipality, or the entire area outside cities in that municipality, if applicable, using the procedures set out in 3 AAC 130.095 - 3 AAC 130.097.

(g) Following a determination of full value of property under this section, the department will determine the amount of the computed assessed value of a utility which, under AS 29.60.030 (d), is required to be included in the full and true value of property, using the procedures set out in 3 AAC 130.095 - 3 AAC 130.097.

(h) The department will determine the full and true value of property for a second class city as described in AS 29.60.030 (e)(3), using the procedures set out in 3 AAC 130.095 - 3 AAC 130.097.

(i) The full value of property determined under (a) - (d) of this section constitutes the full and true value of property for the purposes of AS 29.60.030 (d) and (e) unless

(1) the full and true value of property is determined under (h) of this section; or

(2) the computed assessed value of a utility must be included in the full and true value of property, as determined in (g) of this section.

History: Eff. 10/18/87, Register 104; am 12/1/2002, Register 164

Authority: AS 29.60.030

AS 29.60.070

AS 29.60.180

AS 29.60.290


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Last modified 7/05/2006