{"data":{"id":"us-ak/as-29.45.051","jurisdiction":"us-ak","citation":"AS 29.45.051","heading":"Tax deferral for certain subdivided property.","body":"(a) A municipality may by ordinance permit deferral of payment of taxes on all or a portion of the increase in assessed value directly attributable to\n(1) the subdivision of a single parcel of property into three or more parcels; and\n(2) any improvements made to the property necessitated by its subdivision.\n(b) A deferral from taxation allowed under (a) of this section shall be limited to a maximum period of five years. A municipality may by ordinance provide for the deferral of payment of taxes permitted under (a) of this section to be of a shorter duration.\n(c) Subject to (b) of this section, a municipality may also by ordinance provide that\n(1) the deferral is terminated when\n(A) a lot in the subdivision is sold; or\n(B) a residential or commercial building is built on a lot in the subdivision; or\n(2) the deferral continues for the unsold lots in the subdivision after\n(A) a lot in the subdivision is sold; or\n(B) a residential or commercial building is constructed on a lot in the subdivision.","path":["Title 29. Municipal Government.","Chapter 45. Municipal Taxation."],"source_url":"https://www.akleg.gov/basis/statutes.asp#29.45.051","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:18:16Z","sha256":"9de0d80feafebe4883b8218d7cb3ce0300e11174c18d1e6a9513af1d18640855","source_id":"us-ak","stale":false,"prev":"us-ak/as-29.45.050","next":"us-ak/as-29.45.052"},"notice":"GroundRules: Original legal text. Not legal advice."}