HomeMy WebLinkAboutORDINANCE 0184-1970CITY OF KENAI - ORDINANCE ] ~ - ?0
AMENDIN0 KENAI CODE - 1963, AS AMENDED, T0 REPEAL THE EXISTING
EXF~4FTION ON TAXATION OF PZRSONAL PROPERTY AND AUTHORIZING
TAXATION OF PERSONAL PROPERTY AND PROVIDING FOR AN EXEMPTION FROM
TAXATION OF A CLASS OF PERSONAL PROPEhl'~ AND DECLARING AN EMER-
GENCY.
WI{EBEAS, the Council of the City of Kenal finds that the
public interest and welfare Is now best served by taxinE all
personal pPoperty (except the class of personal p~operty
exempted) with~n the boundaries of the City of Kenal, and
WHEREAS, it is intended to provide a mode equitable
tax base by taxation of personal as well as foal p~ope~ty
within the City of Kena~,
BE IT O~DAINED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA:
Section 1. Section 7-1, of the Code of the Ci~y of
Kena~, 1963, as ~ended, ~s hereby fuDthe~ ~ended ~o ~ead as
follows:
P~ope~t~ Sub, eot ~o Taxation -- Da~e to be F~xed b~ Council
Section 7-1 (a). All ~eal ~d personal p~operty,
no~ expressly exempt by law, shall be sub~ect ~o ~nual taxation
at ~ts full ~d tDue value based upon the actual value of the
p~ope~ty assessed.
(b). The ~ate of levy of tax shall be f~xed by
~esolut~on of the City Council, but ~he agE~e~ate thereof
shall not exceed three pe~cent (3~) of the assessed value of
the p~ope~ty assessed.
(c). In add~on to exemptions p~esently au~ho~ized
by the Kenai Peninsula Borough, the inventory of a buslness held
fo~ ~esale in the no~al course of tha~ business, ts hereby
olass~f~ed as personal p~opeDty exempt f~om taxation fo~ the
City of Kena~.
Section 2. It ~s hereby fo~d that the public ~n~e~est
~d welfaDe will be betted served by establ~s~ent of a bDoade~
tax base provided upon ~he ~emoval of the tax exemption as
previously administered by the City of Kena! with respect to
property defined as personal property.
Section 3. All actions of the Council in approving
o~ adopting the budget in the year 1970 are hereby ratified.
Section 4. An emergency is hereby declared and the
rules governing the intr~duotion, reading, passage, and approval
of this o~dinance are hereby suspended and this ordinance shall
be ef£eet~ve ~mmedXately upon its passage and approval.
ENER~ENCY DECLARED / day of July 1970.
PASSED / day of July 1970.
CITY OP KENAI
By: ,
H. MORIN, Mayor
ATTEST:
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