HomeMy WebLinkAboutORDINANCE 1107-198517
Suggested by: Councilman Wine
CITY OF KENAI
ORDINANCE NO. 1107-85
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, AI.ASKA,
AMENDING KMC 7.05.010 BY EXEMPTING PERSONAL PROPERTY FROM
TAXATION.
WHEREAS, the City Council desires to exempt all personal property
in the City from property tax in order to provide tax relief to
its citizens; and,
WHEREAS, the estimated revenue reduction to the City is $65,000
per year based upon 1.9 mills; and,
WHEREAS, it is not the Council's intention to exempt mobile homes
or oil related property.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
KENAI, ALASKA, that:
Section 1:
KMC 7.05.010(a) be amended as follows:
7.05.010 Property Subject to Taxation: (a) All real
[AND PERSONAL] property not expressly exempt by law shall be
subject to annual taxation at its full and true value based upon
the actual value of the property assessed. Mobile homes and
trailer houses and oil -related aroaerties are to be treated as
real property and subject to taxation.
Section 2:
The personal property tax exemption caused by this ordinance
shall be effective beginning with the calendar year 1986 tax
levy.
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this fifth
day of March, 1986.
TOM WAGONER, MAYOR
ATTEST:
Janet Whelan, City Clerk
First Reading: December 18, 1985
Second Reading: March 5, 1986
Effective Date: April 5, 1986
Approved by Finances l9a
2/28/86