MEMORANDUM
TO: Timothy Navarre, Assembly President
Members, Kenai Peninsula Borough Assembly
THRU: Dale Bagley, Mayor
FROM: Shane Horan, Assessor
Jeff Sinz, Finance Director
Colette Thompson, Borough Attorney
DATE: November 8, 2001
SUBJECT: Ordinance 2001-44
The borough code currently exempts watercraft registered through the U.S. Coast Guard (USCG), issued an ADF&G number, or documented through the U.S. or foreign governments from ad valorem property taxes. In 2001, the State of Alaska enacted SCS CSHB 108 (FIN), which, among other provisions, requires the state to register and number certain watercraft instead of the USCG. The accompanying ordinance would adjust the borough code to reflect that watercraft registered through the State of Alaska are not subject to the borough ad valorem taxation and instead are subject to the flat tax imposed in KPB 5.12.150. Shortened hearing is requested in order that this be effective January 1, 2002, which is the tax assessment date.