{"data":{"id":"us-ak/as-29.45.590","jurisdiction":"us-ak","citation":"AS 29.45.590","heading":"Limited property taxing power for second class cities.","body":"A second class city may by referendum levy property taxes as provided for first class cities. However, levy of an ad valorem tax by a second class city may not exceed two percent of the assessed value of the property taxed, except that the limit does not apply to a levy necessary to avoid a default upon payment of principal and interest of bonded or other indebtedness that is secured by a pledge to levy ad valorem or other taxes without limit to meet debt payments.","path":["Title 29. Municipal Government.","Chapter 45. Municipal Taxation.","Article 3. City Property Tax."],"source_url":"https://www.akleg.gov/basis/statutes.asp#29.45.590","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:18:16Z","sha256":"e7ac51179af7d8868f38a3a43a2aae9078dfc101303719e440ee066bcab24d10","source_id":"us-ak","stale":false,"prev":"us-ak/as-29.45.580","next":"us-ak/as-29.45.600"},"notice":"GroundRules: Original legal text. Not legal advice."}