HOMER
Novak
ORDINANCE 08-49
AN ORDINANCE AMENDING HOMER
WHEREAS, AS 29.45.050(b)(1)(A)
provides that a municipality by ordinance may classify and exempt from taxation
the property of a organization not organized for business or profit-making
purposes and used exclusively for community purposes if the income derived from
rental of that property does not exceed the actual cost to the owner of the use
by the renter; and
WHEREAS, The Kenai Peninsula Borough
has provided for an exemption of this type in Kenai Borough Code 5.12.100; and
WHEREAS, The Kachemak Bay Equestrian
Association has real property in the City that the Kenai Peninsula Borough has
exempted from taxation under Kenai Borough Code 5.12.100, and has requested a
similar exemption from taxation by the City; and
WHEREAS, It is in the public interest
for the City to exempt from taxation the property in the City that is exempt
from Borough taxation under Kenai Borough Code 5.12.100, and to coordinate this
tax exemption with that of the Borough.
THE
Section 1. Homer City Code § 9.04.046
concerning exemptions from City property taxation shall be amended to read as
follows:
9.04.046
Real and personal property tax--Exemptions.
a. The following property is
exempt from the real and personal property tax imposed by this chapter:
1. the
first $100,000 of assessed valuation of personal property, other than motor
vehicles and watercraft, owned by each taxpayer; for taxpayers with more than
one personal property tax account, this exemption shall be distributed pro rata
among all of the taxpayer's accounts based on the proportion of the assessed
value in each account to the total assessed value of that taxpayer's personal
property;
2. motor
vehicles that are subject to a motor vehicle registration tax imposed by Kenai
Peninsula Borough Code chapter 5.12, and as the same may be thereafter amended,
revised, or replaced.
b. The
first $20,000.00 of assessed valuation of a single parcel of residential real
property owned and occupied by the owner of record as the owner’s permanent
place of residence in the City, shall be exempt from the City tax levy on real
property within the City of
c. Property
of an organization not organized for business or profit-making purposes and
used exclusively for community purposes is exempt from taxation under this
chapter. Property or a part of the property from which rentals or income are
derived is not exempt from taxation unless the income derived from the rentals
does not exceed the actual cost to the owner of the use by the renter. The borough assessor’s determination of
whether property in the city qualifies for the borough exemption under Kenai
Borough Code Section 5.12.100 shall be determinative of whether the property
qualifies for the exemption under this subsection 9.04.046(c).
d. This
section shall be applied and construed to effectuate its general purpose to
make uniform the laws of the City and the Kenai Peninsula Borough with respect
to the exemptions granted by this section.
Section 2. This ordinance is of a permanent and general character
and shall be included in the city Code.
ENACTED BY THE
______________________________________
DENNIS NOVAK, MAYOR PRO TEMPORE
ATTEST:
______________________________
JO JOHNSON,
AYES:
NOES:
ABSTAIN:
ABSENT:
First
Public
Second
Effective Date:
Reviewed and approved as to
form:
Date: _______________________ Date: _______________________