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HOUSE BILL NO. 378
IN THE LEGISLATURE OF THE STATE OF ALASKA
THIRTY-SECOND LEGISLATURE - SECOND SESSION
BY REPRESENTATIVE EASTMAN
Introduced: 2/22/22
Referred: Community and Regional Affairs, State Affairs
A BILL
FOR AN ACT ENTITLED
1 "An Act relating to municipal property tax assessment and reevaluation; and providing
2 for an effective date."
3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
4 * Section 1. AS 29.45.110(a) is amended to read:
5 (a) The assessor shall assess property at its full and true value as of the date a
6 person with an ownership interest in the property conveys that interest to
7 another person [JANUARY 1 OF THE ASSESSMENT YEAR, EXCEPT AS
8 PROVIDED IN THIS SECTION, AS 29.45.060, AND 29.45.230]. The full and true
9 value is the estimated price that the property would bring in an open market and under
10 the then prevailing market conditions in a sale between a willing seller and a willing
11 buyer both conversant with the property and with prevailing general price levels.
12 * Sec. 2. AS 29.45 is amended by adding a new section to read:
13 Sec. 29.45.155. Reassessment. (a) A municipality may not reassess taxable
14 real or personal property except as provided in this section.
HB0378a -1- HB 378
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1 (b) A municipality may reassess real or personal property on the date that a
2 person with an ownership interest in the property conveys that interest to another
3 person.
4 (c) A municipality shall reassess real or personal property if an owner of the
5 property demonstrates that the value of the property has changed since the last
6 assessment or reassessment, the owner requests that the assessor reassess the property,
7 and the property has not been reassessed within the previous two years. A
8 municipality may waive the requirement that two years elapse before a reassessment.
9 (d) A municipality may not adopt or issue a regulation, ordinance, order, or
10 similar policy or take an action that would encourage a property owner to request a
11 reassessment of the owner's property. A municipality may not discriminate against a
12 property owner based on the property owner's decision to request, or not request, a
13 property reassessment.
14 * Sec. 3. AS 29.45.150 and 29.45.230 are repealed.
15 * Sec. 4. This Act takes effect immediately under AS 01.10.070(c).
HB 378 -2- HB0378a
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Statutes affected:
HB0378A, AM HB 378, introduced 02/22/2022: 29.45.110, 29.45.060, 29.45.230