ITEM TITLE:
#23-03 - Amending Chapter 3.12 of the Valdez Municipal Code by Creating Section 3.12.055 to Provide for Tax Adjustments on Property Affected by a Disaster. Second Reading. Adoption.
SUBMITTED BY: Jake Staser, City Attorney/Sheri Pierce, City Clerk
FISCAL NOTES:
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RECOMMENDATION:
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SUMMARY STATEMENT:
Pursuant to Alaska Statute 29.45.230, the City may by ordinance provide for assessment or reassessment and reduction of taxes for property destroyed, damaged, or otherwise reduced in value because of a disaster.
To provide relief for property owners whose property has been damaged or destroyed by a qualified disaster, Ordinance #23-03 will amend Chapter 3.12 of the Valdez Municipal Code by creating Section 3.12.055 which establishes criteria, procedures, restrictions and conditions for assessing or reassessing and for remitting, refunding, or forgiving taxes for property damaged or reduced in value because of disaster.