1992-25 Amending Kodiak Island Borough Code 3.24 Revenue and Finance, Personal Property TaxKODIAK ISLAND BOROUGH
ORDINANCE NO. 92 -25
NOW, THEREFORE, BE IT ORDAINED BY THE ASSEMBLY OF THE KODIAK ISLAND
BOROUGH THAT:
Section 1: This ordinance is of a general and permanent nature and shall become a
part of the Kodiak Island Borough Code of Ordinances.
Section 2: Kodiak Island Borough Code is amended as follows:
Chapter 3.24
PERSONAL PROPERTY TAX
Sections:
AN ORDINANCE AMENDING KODIAK ISLAND BOROUGH CODE 3.24
REVENUE AND FINANCE, PERSONAL PROPERTY TAX
Kodiak Island Borough, Alaska
3.24.010 Assessment return.
3.24.015 Tax situs of personal property.
3.24.020 Liability for and collection of.
3.24.030 Penalties.
3.24.050 Classification of boats and vessels.
3.24.060 Business inventories exempt.
3.24.070 Household furniture and effects exempt.
3.24.080 Commercial fishing gear exempt.
Introduced by: Mayor Selby
Requested by: Assessing Dept.
Drafted by: Assessing Dept.
Introduced: 11/19/92
Public Hearing:
Adopted:
3.24.010 Assessment return. Every person shall submit to the borough
assessor a personal property return of any property owned by him, or in which he has
an interest, and of the property held or controlled by him in a representative capacity,
in the manner prescribed, which return shall be based on property values existing as
of the first day of January of the year for which the return is made. The person
making the return in every case shall state an address to which all notices required to
be given to him under this section may be mailed or delivered. The return shall show
the nature, quantity, description, amount, end v±aki , pt#rhase price new *r used}
depreciable basis and t;urrent condition of all personal property, the place where the
Ordinance 92 -25
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property is situated, and said return shall be in such form and include such additional
information as the borough assembly may prescribe, and shall be signed and verified
under oath by the person liable, or his or its authorized agent or representative. Said
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return shall be filed on or before the fifteenth day of February of each tax year: except
that the assessor rn'ay allow an extension of the filing deadilr a to the fifteenth day of
[larch for ail filers'uvflo submit in writing to the Assessor a req estfor <a fMng
extension after the anneal.. mailing of the personal property frlrng for but ijOr to
the fifteenth February of each tax year. The borough assessor may, by notice
in writing to any person by whom a return has been made, require from him a further
return containing additional details and more explicit particulars, and upon receipt of
the notice, that person shall comply fully with its requirements within thirty days.
In the event of any person failing, refusing or neglecting to make or file
said personal property return of property owned by him, as required herein, the
assessor shall make an assessment which shall be as fair and equitable as he is able
to make from the best information in his possession concerning said property. (Prior
code Ch.3 subch. 2 §1).
3.24.030 Penalties. A person who fails, refuses or neglects to file a
personal property return in accordance with Sections 3.24.010 and 3.24.020 shall,
in addition to other penalties provided by law, be liable for a penalty of ten percent of
the tax assessed against said personal property as assessed by the borough assessor,
in accordance with Section 3.24.010. Said person shall pay interest at the rate of
eight percent per year, exclusive of penalty, from the due date until paid in full. This
section shall apply to all persons having personal property within the borough,
irrespective of residence. However, when such penalty and interest amount to one
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dollar or less there shall be assessed a minimum penalty of one dollar. A„poragiht
mpleted is #urn after ##te< frlrrlg d eadline,' ttut before the maliing of #f
as t ssment notice shah, rrt a to other perialties`protriddd y tart, be li MA tar
a penalty of ftue percent (5 ° +t of the tex essessed-a ainst sa€d p sanatpr€ perty fat
thattaxyear: (Ord.74 -8 -0 §3, 1974: Ord.69 -4 -0 5, 1969:Ord.67 -11 -0 51, 1967:
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prior code Ch. 3 subch. 2 53).
3.24.070 Household furniture and effects exempt. All household
furniture and effects (i.e. snow machines, unlicensed ATVs, TVRO earth stations) and
including noncommercial, nonbusiness, nonagricultural, and nonincome producing
personal property of the head of a family or householder is exempt from property tax.
MOW' r ` r3: . el5tr Jneludes ail personal prop •
u ldi
owner Is ()1itrner occupied and: the tt #al square footage of t e rental urth d o es not
exceed it hirty frtre percent t l of:the rpss l iving re of the: -st rt1 LUC (Ord. 84-
25-0 §1, 1984).
Kodiak Island Borough, Alaska
Ordinance 92 -25
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PASSED AND APPROVED THIS DAY OF , 1992.
ATTEST:
Borough Clerk
KODIAK ISLAND BOROUGH
Borough Mayor
Presiding Officer
Kodiak Island Borough, Alaska Ordinance 92 -25
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