Alaska Statutes: AS 29.45.590. Limited Property Taxing Power For Second Class Cities.

Alaska Statutes. Title 29. Municipal Government Chapter 45. Municipal Taxation Section 590. Limited Property Taxing Power For Second Class Cities.

previous: Section 580. Differential Tax Zones.
next: Section 600. Combining Property Tax With Incorporation of a Second Class City.

AS 29.45.590. Limited Property Taxing Power For Second Class Cities.

A second class city may by referendum levy property taxes as provided for first class cities. However, levy of an ad valorem tax by a second class city may not exceed two percent of the assessed value of the property taxed, except that the limit does not apply to a levy necessary to avoid a default upon payment of principal and interest of bonded or other indebtedness that is secured by a pledge to levy ad valorem or other taxes without limit to meet debt payments.

This version of the Alaska Statutes is current through December, 2007. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful.