Alaska Statutes 29.45.590 – Limited property taxing power for second class cities
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Alaska Statutes 29.45.590
- property: includes real and personal property. See Alaska Statutes 01.10.060
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.