Source: https://fnsb.borough.codes/FNSBC/8.04.070
Timestamp: 2020-02-25 05:10:32
Document Index: 575707161

Matched Legal Cases: ['§ 4', '§ 48', '§ 4', '§ 4', '§ 4', '§ 5', '§ 3']

8.04.070 Specific property exempt from taxation | Fairbanks North Star Borough Code
8.04.075
8.04.070, Specific property exempt from taxation
This section was recently amended by Ordinance 2019-47, codified in January 2020.
A. As permitted by AS 29.45, property belonging to the Tanana Valley State Fair Association, Inc. If the income derived from the rental of such property exceeds the actual cost to the owner of the use by the renter, this exemption shall not apply;
B. Pursuant to AS 29.45, property leased to the city of Fairbanks for use as a nonprofit community hospital and used as a nonprofit community hospital;
C. As permitted by AS 29.45, property owned by the Fairbanks Alano Club described as Lot 10B, Block 77, Fairbanks Townsite. If the income derived from the rental of such property exceeds the actual cost to the owner of the use by the renter, this exemption shall not apply;
D. As permitted by AS 29.45, the leasehold interest of the Salcha Fair Association, Inc., within a portion of Parcel 4, Grieme Agricultural Subdivision, as shown on the plat filed August 18, 1987. If the association subleases all or part of this property, the exemption does not extend to the property of the subtenant, unless the subtenant itself qualifies for a tax exemption under this section;
E. As permitted by AS 29.45, property used exclusively for low-income senior housing as follows:
1. The real property owned by the Moore Street Seniors, Incorporated and constructed on Tax Lot 942, Section 9, T1S, R1W, F.M. (for the purpose of providing subsidized low-income senior housing).
2. The real property owned by MLH Manor Limited Partnership described as Lots 6, 7, 8, 9 and 10, Block 90, Fairbanks Townsite.
3. The real property owned by North Pole Area Housing Association, Inc. described as Lots 8 and 9, Block 18, Beaver Subdivision, North Pole, Alaska and known as Holiday Heights Senior Housing Complex.
F. As permitted by AS 29.45, all property belonging to Tanana Valley Sportsmen’s Association that is used exclusively for community purposes. This exemption shall not apply if the income derived from rental of the property exceeds the actual cost to the owner of the use by the renter;
G. As permitted by AS 29.45, the real property owned and occupied by Fairbanks Drama Association and Fairbanks Children’s Theatre, Inc., described as TL-941, Section 9, T1S-R1W, that is used exclusively for community purposes. This exemption shall not apply if ever the income from rental of the property exceeds the actual cost to the owner of the use by the renter;
H. As permitted by AS 29.45.050, the real property owned by the Morris Thompson Cultural and Visitors Center and located at 101 Dunkel St., Fairbanks, AK, which is exclusively controlled and/or used by the Morris Thompson Cultural and Visitors Center or exclusively used by the Tanana Chiefs Conference/Denakkanaaga is used exclusively for community purposes and is exempt from FNSB property tax. The portion of the real property exclusively occupied by the Fairbanks Convention and Visitors Bureau is excluded from this exemption. This exemption shall not apply if ever the income from rental of the property exceeds the actual cost to the owner of the use by the renters.
I. As permitted by AS 29.45.050(b)(1)(A) the real property listed below that is owned by the Retirement Community of Fairbanks and is used exclusively for community purposes. This exemption shall not apply if ever the income from rental of the property exceeds the actual cost to the owner of the use by the renters.
Lot 2A, Weeks Field Community Phase II, Plat No. 2013-31, PAN No. 653185, located at 1222 Cowles St. and known as Raven Landing Community Center.
J. As permitted by AS 29.45, the real property listed below that is owned by the Alaska Dog Musher’s Association, Inc., and is used exclusively for community purposes. This exemption shall not apply if ever the income from rental of the property exceeds the actual cost to the owner of the use by the renters.
1. Lot 1 Snowhook, 935 Farmers Loop Road, known as Alaska Dog Musher’s Association Mushers Hall and Parking.
2. TL-2213 Section 22 T1N-R1W, known as Jeff Studdert Race Trail, Trailhead, Parking. (Ord. 2019-47 § 4, 2019; Ord. 2016-40 § 48, 2016; Ord. 2015-32 § 4, 2015; Ord. 2009-29 § 4, 2009; Ord. 2007-51 § 4, 2007; Ord. 2003-69 § 5, 2003. 2004 Code § 3.08.021.)