According to AMC 12.10.020, individual personal property utilized solely and exclusively for personal, non business uses or purposes is exempt from taxation as of January 1, 2022.
According to AO 2021-064 non scheduled commercial aircraft that have been issued an N-number by the Federal Aviation Administration (FAA) are subject to a flat tax based on weight, regardless of value or condition as of January 1, 2022.
According to AMC 12.10.040 as of January 1, 2022, personal property returns shall be filed or postmarked on or before April 30th of each year by each person owning or controlling personal property subject to taxation. In addition, a tax payer may file an amended return of any timely, late or involuntary return within one year of the filing due date.
According to AMC 12.10.080, a penalty of 20% on the tax amount which was due on an involuntary return shall be added to the personal property tax billing associated with the involuntary return as of January 1, 2022.
Business Personal Property
Business personal property is composed of tangible assets, other than real property, held for use in a business. Taxable business personal property includes, but is not limited to; inventory, supplies, furniture, fixtures, equipment, leasehold improvements, and rental furnishings.
Click here to E-file
Watch for your Business Property Assessment Returns and passwords in the mail in January. The deadline for the return is April 30th. E-filing is no longer available after the deadline. If you have any questions contact our office at (907) 343-6770.
Once the return is submitted, either through E-filing or by mailing the paper return, the Personal Property Section will review the return, establish the assessed value, and notify the taxpayer. The Notice of Assessed Value states that an appeal must be filed within 30 days.
If you are having difficulty processing through e-file you will need to adjust your browser by applying the following fix: On the menu bar click the "Tool" tab, On the dropdown list click on "Compatibility View Settings", In the "add this website" box type "Muni.org"
About Your Business Property Assessment Return
Business property owners that have assets valued at more than $20,000 must annually complete and file a business property assessment return reporting the cost of all business personal property owned, possessed, or controlled as of January 1. (Visit our Exemptions page for more information on the $20,000 Business Property Exemption).
E-filing is available for business property owners who have filed a return with us in previous years. Click here to view how your return can be filed online through April 30. Visit our FAQ pages regarding E-filing for more information.
The deadline for the return is April 30th. Returns received after the deadline are subject to a 10% late penalty. If a return is not received the Assessor is authorized to file an involuntary return for the business, estimating its value. Involuntary returns are subject to a 20% penalty.
Leasing Company Information
Leasing companies are encouraged to file electronically using Microsoft Excel. The file should include the following data:
- identification number assigned by your company,
- the physical address of the asset,
- the description of the asset,
- the Municipality of Anchorage schedule number 1-21 (see the Business Property Assessment Return for more information),
- the year of acquisition of the asset, and
- the original installed cost of the asset.
Business Property Assessment Returns are due April 30th; however, the Personal Property Section will accept electronic files beginning January 1 of the tax year. Files can be submitted via email to email@example.com or sent by disk to: Personal Property Section, Municipality of Anchorage, P.O. Box 196650, Anchorage, AK 99519-6650.
Be advised that assets leased to military installations or other exempt entities are not exempt. You must report these assets and they will be assessed. In addition, the Personal Property Section does not recognize or enforce private agreements purporting to transfer the responsibility to file on business assets. If the assets are not reported, the Personal Property Section will file an involuntary return for the lessor of the assets, subject to the 10% late penalty.
||Business Property Assessment Return
|| April 30th
||Business Personal Property Appeals
|| 30 days from notice of assessed value