Business Property Exemption

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Business Property Exemption

On October 26, 2004 the Anchorage Assembly approved AO No. 2004-140, amending Anchorage Municipal Code sections 12.10.010 and 12.10.020 to provide a tax exemption of $20,000 of assessed value for business personal property.

Businesses with a value of less than $20,000 are no longer required to file a Business Property Assessment Return with the Municipality of Anchorage. The preprinted Business Property Assessment Return will not be mailed to businesses with an assessed value of less than $20,000 in the previous tax year. New businesses with a value of less than $20,000 are asked to complete the one-page Discovery Questionnaire.

Businesses with a value of $20,000 or more should file a Business Property Assessment Return reporting all of its business personal property. A preprinted 2008 Business Property Assessment Return will be mailed in mid-February and the passwords to E-file the return will be mailed by the end of February. The $20,000 exemption will be computed and deducted from the assessed value and reflected on the Notice of Assessed Value that will be mailed in mid-July. Taxpayers with multiple locations are eligible for only one $20,000 exemption. The exemption will be pro rated based on the percentage of each location’s assessed value to the total assessed value for the entire business.

632 W. 6th Avenue Anchorage, Alaska 99501
PO Box 196650 Anchorage, Alaska 99519
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