Chapter 4.12 PROPERTY TAX

Chapter 4.12
PROPERTY TAX

Sections:

4.12.010 Property tax – Annual levy.

The Council may annually levy a general property tax for municipal purposes upon all real and personal property within the City. All real property within the City not expressly exempted by Borough ordinance shall be subject to annual taxation. The tax shall be used for municipal purposes and for such as are or may be authorized. (Ord. 13-12 § 2, 2013; Ord. 05-16 § 2, 2005; Ord. 86-2 § 2, 1986. Code 1962 § 17-2)

4.12.020 Tax levy and collection.

A. The City Council shall annually determine the rate of levy by ordinance and shall include 0.15 mills for the vehicle fleet fund established in Chapter 4.25 NPMC adopted on or before the first Monday in December. The City Council shall present to the Borough Finance Department a statement of the City’s rate of levy.

B. The real property tax levied by the City shall be upon the same real property within the City and shall be enforced and collected by the Borough in the same manner, and at the same time, and under the same procedures as provided by Borough ordinance, resolution and regulation for collection of real property taxes levied by the Borough.

C. The grant of an optional exemption, deferral or exclusion by the Borough pursuant to AS 29.45 or other authority will not apply to real property within the City unless the City Council concurs by ordinance or as specifically provided for in this section.

D. The City concurs in the following Borough exemptions:

1. All exemptions required by the laws of the State of Alaska and any additional requirements or qualifications for those exemptions as required by the Fairbanks North Star Borough.

2. All exemptions adopted by the Fairbanks North Star Borough as of April 5, 2022, excluding the exemption/tax incentive for housing as adopted or as modified by subsequent action. (Ord. 22-24 § 2, 2022; Ord. 13-12 § 2, 2013)