1986-25 Amending Amounts, Penalties, and Interest in Relation to Property Tax CollectionA ORDINANCE OF THE KODIAK ISLAND BOROUGH ASSEMBLY AMENDING AMOUNTS,
PENALTIES, AND INTEREST IN RELATION TO PROPERTY TAX COLLECTION.
WHEREAS, the State of Alaska has adopted a new Title 29, and
WHEREAS, the penalties and interest has been increased, and
WHEREAS, in the past it was more advantageous to the individual
taxpayer to temporarily forego the payment of taxes rather than to borrow from
a commercial bank when funds were needed.
NOW, THEREFORE, BE IT ORDAINED by the Assembly of the Kodiak Island
Borough that the following amendments will apply to all property tax
collections by the Kodiak Island Borough. Effective with the date of
enactment of this ordinance Title 20 of the Kodiak Island Borough Code is
amended as follows:
ATTEST:
By
3.20.089 Exceptions. Taxes levied in the amount of
twenty -five fifty dollars or less must be paid in full on the due
date established by the borough assembly as the due date of the
first installment of all taxes in a larger amount. Taxes levied in
an amount of four dollars and ninety -nine cents or less will not be
billed. During the process of billing, all full year tax amounts
of less than five dollars total will be written off as if paid. A
full accounting of such writeoffs will be available for public
inspection.
3.20.090 Late Payments -- Penalty and Interest. If the first
payment is not paid when due, the entire tax becomes delinquent,
and subject to a penalty of ten percent of the entire
tax; and interest shall accrue on the unpaid principal balance,
excluding the penalty, at the rate of eight twelve (12) percent
per year. If the first payment is paid when due, but the second
payment is not paid when due, the unpaid balance of the tax becomes
delinquent, and subject to a penalty of ten percent of the
unpaid balance; and interest shall accrue on the unpaid principal
balance, excluding the penalty, at the rate of eight twelve (12)
percent per year. Partial payments shall be applied first to
accrued penalties, then to interest, then to principal.
Notwithstanding the acceptance of partial payment, the unpaid
balance remains delinquent and the lien therefore is enforceable in
accordance with the law. For the purposes of this section, a
payment is paid when due if mailed to the borough, postage prepaid,
bearing a postmark date no later than the due date.
Boron ller
Approval Date:
First Reading:
Second Reading:
Effective Date:
Recommended By:
KODIAK ISLAND BOROU(
ORDINANCE NO. 86-25-0G,
PASSED AND APPROVED this 1 day of July
July 1, 1986
June 5, 1986
July 1, 1986
July 1, 1986
Finance Director
KODIAK ISLAND BOROUGH
By
By
, 1986.
ding Officer