FAQs about Business Personal Property
- Who must file a Business Property Assessment Return?
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What is the deadline for the Business Property Assessment Return?
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How does the Assessor arrive at the assessed value for business personal property?
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Where can I search for assessment information pertaining to my Business or Mobile Home?
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What if I don’t agree with the assessed value?
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What if my business sold or closed prior to January 1st?
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Does the Assessor prorate taxes between a buyer and a seller if the business sold during the tax year?
1. Who must file a Business Property Assessment Return?
All businesses operating within the Municipality of Anchorage on January 1st of the tax year with assets exceeding $20,000 in value must file a Business Property Assessment Return.
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2. What is the deadline for the Business Property Assessment Return?
To be deemed timely, your return must be postmarked by April 30th of the tax year. Late returns are subject to a 10% penalty. A 20% penalty will be applied to businesses that fail to file an annual return.
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3. How does the Assessor determine the assessed value for business personal property?
For most property, the Assessor uses the cost reported by the current owner and applies a percent good factor based upon the year the property was acquired in order to estimate market value. The percent good factors are available on our
business personal property website.
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4. Where can I search for assessment information pertaining to my Business?
Under Municipal Code 12.10.040(f) Personal Property tax returns shall be confidential and therefore are not searchable by the public. For account information please contact Property Appraisal at
(907) 343-6752.
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5. What if I don’t agree with the assessed values?
You will receive a Notice of Assessed Value in September. You have 30 days from the date the notice is mailed to appeal your assessed value. You may be able to settle disagreements without the need or expense of filing a formal appeal by contacting us at
(907) 343-6752. Business Personal Property Appeal form.
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6. What if my business sold or closed prior to January 1st?
You still need to file a business property return to inform us of the sale or closure. This can be done easily and quickly using Smart File.
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7. Does the Assessor prorate taxes between a buyer and a seller if the business is sold during the tax year?
No, the Municipality of Anchorage holds the owner as of January 1st of the tax year responsible for the business property taxes. Any arrangement regarding property tax liability must be worked out between the buyer and seller.
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