ALASKA'S PROPOSED PROPERTY
TAX CAP FOR YOUR REVIEW
By FREEDOM WRITER
September 25, 2000
Title
& Number:
BALLOT
MEASURE NO. 4
INITIATIVE NO.: 99PTAR
Bill Limiting Property Assessment and Taxation
Summary:
This
initiative bars certain municipalities from setting property tax rates
above 10 mills. The 10 mill cap will not apply to taxes to repay bonds
issued before January 1, 2001. Taxes to pay for bonds issued after
January 1, 2001, must be included in the 10 mill limit. The bill also
repeals the law requiring the same mill rate on all properties. It
sets the assessment of property at its value on January 1, 2001. Each
year an assessment may rise no more than 2 percent. Property will
be reassessed when it is sold or improved.
Should
this initiative become law?
Update
on the lawsuit in the Superior Court in Nome, C.A.S.E. et. al. v.
Ulmer, 2NO-00-125 Civil, the court granted judgment in favor of the
defendent and was dismissed on 8/31/00.
Full
text of bill language provided by petition sponsors.
FREEDOMWRITER
urges all Alaskan voters to express their opinion at the ballot box
on November 11, 2000.
