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I Introduced by: Borough Assembly <br /> Requested by: Borough Manager <br /> 2 Drafted by: Borough Assessor <br /> 3 Introduced: 04/16/2015 <br /> 4 Public Hearing: 05/07/2015 <br /> Postponed: 05/21/2015 <br /> 5 Adopted: 08/20/2015 <br /> 6 <br /> 7 <br /> 8 KODIAK ISLAND BOROUGH <br /> 9 ORDINANCE NO. FY2015-11 <br /> 10 <br /> 11 AN ORDINANCE OF THE ASSEMBLY OF THE KODIAK ISLAND <br /> 12 BOROUGH AMENDING VARIOUS SECTIONS IN TITLE 3 <br /> 13 REVENUE AND FINANCE CHAPTER 3.40 PERSONAL <br /> 14 PROPERTY TAX <br /> 15 <br /> 16 WHEREAS, AS 29.45.050 (b) (2) allows a municipality to classify as to type and exempt or <br /> 17 partially exempt some or all types of personal property from ad valorem taxes; and <br /> 18 <br /> 19 WHEREAS, KIBC 3.40.070 was written with the intention of taxing boats and vessels at a <br /> 20 rate determined annually by the assembly during the budget adoption process for boats with <br /> 21 an overall length longer than 20 feet, measured bow to stern, rather than on an ad valorem <br /> 22 basis; and <br /> 23 <br /> 24 WHEREAS, the current tax rate on boats and vessels is $1 per foot with boats that are <br /> 25 equal to or less than 20 feet long exempt from tax; and <br /> 26 <br /> 27 WHEREAS, the current tax rate of $1 per foot does not provide enough funds to make the <br /> 28 administration and maintenance of these accounts cost effective for the borough; and <br /> 29 <br /> 30 WHEREAS, the borough collects both raw fish tax and severance tax from the fishing fleet; <br /> 31 and <br /> 32 <br /> 33 WHEREAS, it is the intent of the Kodiak Island Borough Assembly to exempt boats and <br /> 34 vessels used for commercial purposes from property tax. <br /> 35 <br /> 36 NOW, THEREFORE, BE IT ORDAINED BY THE ASSEMBLY OF THE KODIAK ISLAND <br /> 37 BOROUGH THAT: <br /> 38 <br /> 39 Section 1: This ordinance is of a general and permanent nature and shall become a part of <br /> 40 the Kodiak Island Borough Cade of Ordinances. <br /> 41 <br /> 42 Section 2: Title 3 Revenue and Finance Chapter 3.40 Personal Property Tax is hereby <br /> 43 amended as follows: <br /> 44 <br /> Kodiak Island Borough, Alaska Ordinance No. FY2015-11 <br /> Page 1 of 6 <br />