Opinion ID: 2584948
Heading Depth: 3
Heading Rank: 3

Heading: Limited Common Elements Are Taxable to the Owner of the Condominium Unit to Which They Are Attached.

Text: Alaska Statute 34.08.720 governs taxation of property in common interest communities and provides in relevant part: (b) In a condominium or planned community, (1) . . . each unit that has been created, together with its interest in the common elements, constitutes for all purposes a separate parcel of real estate. In Whitestone Estates, limited common elements are a portion of the Common Elements allocated by the Declaration, or on the plans, for the exclusive use of one or more but fewer than all of the Units. For taxation purposes, limited common elements are subsumed under the interest in the common elements of the condominium unit to which they are attached. [21] Because the land under and around Black's condominium unit is a limited common element, it forms a part of his interest in the common elements. The Municipality can therefore tax Black for his condominium unit and for the limited common element attached to his unit.