Chapter 3.12
REAL PROPERTY1
Sections:
3.12.010 Property subject to taxation.
3.12.020 Farm and agriculture use – Assessment.
3.12.030 Tax roll preparation.
3.12.040 Describing taxable property.
3.12.010 Property subject to taxation.
All real property within the Fairbanks North Star Borough and not expressly exempted by the borough through this chapter and Chapters 3.20 through 3.44 FNSBC shall be subject to annual taxation at a rate not to exceed three percent of its full and true value in money as assessed on the first day of January of the assessment year, the tax to be used for borough purpose and for such other purposes as are or may be authorized. Resolution of the assembly heretofore or hereafter passed shall control and fix the date of equalization of taxes, and the date when taxes shall become delinquent. The tax levy for borough purposes shall be fixed by ordinance. (Prior code § 69.05.010(b))
3.12.020 Farm and agriculture use – Assessment.
A. Farm use land shall be assessed on the basis of full and true value for farm use and may not be assessed as if subdivided or used for some other nonfarm purpose. The assessor shall maintain separate assessment records valuing the farm use land for other than farm use purposes, where applicable. Should the farm use lands be sold, leased, or otherwise disposed of, for other than farm use purposes, the owner shall be liable to pay the additional tax for the preceding two years, and the applicable portion of the current tax year, as though the land had not been assessed for farm use purposes.
B. An owner of farm use land must, to secure the assessment under this section, make application to the assessor before May 15th of each year in which the assessment is desired. The application shall be made upon forms prepared and supplied by the assessor and shall include information which may reasonably be required to determine the entitlement of the applicant.
C. In this section, the term “farm use” means the use of land for profit for raising and harvesting crops, for the feeding, breeding and management of livestock, for dairying, or another agricultural use or any combination of these. To be farm use land, the owner or lessee must be actively engaged in farming the land, and derive at least 10 percent of yearly gross income from the land. This section does not apply to land for which the owner has granted, and has outstanding, lease or option to buy the surface rights. (Ord. 86-098 § 3, 1986)
3.12.030 Tax roll preparation.
The borough assessor shall annually assess and list on a tax roll all real property within the limits of the Fairbanks North Star Borough; such property shall be assessed at its full and true value in money as of the first day of January of the assessment year for which the assessment and listing are being completed. Such listing shall be completed prior to the first day of April of that assessment year. The listing of all taxable property may be made upon permanent separate ledge cards which will be the combined assessment roll and tax ledger. Real property shall be assessed to the owner of record as shown in the records of the recorder of the recording district; provided however, that any other person having an interest in the property may be listed on the assessment records with the owner. The person listed as owner thereof shall be conclusively presumed to be the legal owner of record. If the owner of land is unknown, such land may be assessed to an “unknown owner” or “unknown owners.” No assessment shall be invalidated by a mistake, omission or error in the name of the owner of the real and personal property assessed, if the property is correctly described. The taxable status of property shall be determined by its status at 12:01 a.m. on January 1st of that assessment year. (Ord. 69-8, 1969; prior code § 69.05.040)
3.12.040 Describing taxable property.
The borough assessor may list real property located in any subdivision by lot and block or tract description, and unsubdivided property according to the land office section and township description, or by giving the boundaries thereof, or by reference to the book and page of the records of the recorder of the recording district where the description may be found, or by designation of tax lot number referring to a public record kept by the borough assessor of description of real property or in such other manner as to cause the description to be capable of being made certain. Initial letters, abbreviations, fractions and exponents to designate the township, range, section or part of a section, or the number of any lot or block or part thereof, or any distance, course, bearing or direction, may be employed in any such description of real property. (Ord. 69-8, 1969; prior code § 69.05.050)
For statutory provisions authorizing boroughs to tax real property, see AS 29.45; for provisions governing farm or agricultural lands, see AS 29.45; for provisions authorizing the assessor to list property by any description that may be made certain, see AS 29.45.