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Title 3 . Commerce, Community, and Economic Development
Chapter 190 . Real Property From Dissolved Municipalities
Section 450. Disposals for fair market value

3 AAC 190.450. Disposals for fair market value

Except in the case of a disposal as to which a waiver has been issued by the commissioner under 3 AAC 190.460, all disposals of municipal trust land or interests in it will be for at least fair market value as defined in 3 AAC 190.990. The fair market value of a parcel will be determined by the commissioner in writing in advance of a final consultation with the recognized village entity or the village residents as provided in 3 AAC 190.110 - 3 AAC 190.290, concerning that specific parcel. In determining the fair market value of a parcel, the commissioner will, in his or her discretion, obtain an independent appraisal. If an independent appraisal is obtained, the appraisal fee will be added as a surcharge to the fair market value, and the disposal will not be made for less than the aggregated amount.

History: Eff. 9/21/79, Register 71; am 11/19/88, Register 108

Authority: AS 44.33.755

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Last modified 7/05/2006