§ 14.03. Tax increase limitation  


Latest version.
  • (a) Except as provided in this section, the total amount of municipal tax that can be levied during a fiscal year shall not exceed the total amount approved by the assembly for the preceding year by more than a percentage determined by adding the average percentage increase in the Federal Consumer Price Index for Anchorage from the preceding five fiscal years plus the average percentage growth or loss in the Anchorage municipal population over the preceding five fiscal years as determined by the state department of community and regional affairs.

    (1) The "total amount of the municipal tax that can be levied during a fiscal year" and the "total amount approved by the assembly for the preceding year" in subsection (a) of this section shall include all payments in-lieu of taxes paid or to be paid by any Municipality of Anchorage utility, department, agency or public corporation or authority.

    (b) The limitations set forth in subsection (a) do not apply to the following:

    (1) Taxes on new construction or property improvements which occur during the current fiscal year.

    (2) Taxes required to fund additional services mandated by voter approved ballot issues.

    (3) Special taxes authorized by voter approved ballot issues.

    (4) Taxes required to fund the costs of judgments entered against the municipality or to pay principal or interest on bonds, including revenue bonds.

    (5) Taxes required to fund the cost of an emergency ordinance enacted pursuant to 10.03 of the Municipal Charter.

    (c) Any tax increases which result from the exceptions set forth in subsection (b)(1)—(3) shall be added to the base amount which is used in subsection (a) for the calculations of the subsequent year tax increase limit.

(Initiative, prop. 24, 10-4-83; initiative, prop. 9, 4-7-09)

refstatelaw

Tax limitation, AS 29.45.090.