Businesses that have tax situs within the Kodiak Island Borough on January 1 of the tax year and a total assessed value of more than $20,000 are subject to taxation.
Business personal property includes, but is not limited to: computers, furnishings, fixtures, machinery, tools, and equipment used for business purposes. Retail inventory is not subject to taxation.
Business personal property is assessed using a depreciated cost method. Click here for a copy of the current depreciation schedule.
If you started a new business or acquired an existing business, you are required to file a Business Personal Property return. Businesses already in our system will be mailed a filing form each year. When filing it is important to accurately notate the age and cost new of all items reported to help the assessor determine a fair and equitable assessment of your business.
Please return filing forms to the Assessing Department by January 15 of each tax year. Failure to file will result in the assessor determining an estimation of value based on the best information in his possession and the return will be filed on your behalf along with a 10% penalty fee.
Random personal property audits will be conducted each year to update assessment rolls for errors and omissions that could affect the total assessed value.
If the business was sold or closed, please indicate in writing when the business was sold or ceased operations. In the case of a sale, please include the purchaser’s name and address if possible.
Information regarding Personal Property Tax can be found in Chapter 3.40 of the Kodiak Island Borough Code.
Please contact the Assessing Department at (907) 486-9353 if you have any questions.