Section 29.45.010 - Property tax(a) A unified municipality may levy a property tax. A borough may levy (1) an areawide property tax for areawide functions;(2) a nonareawide property tax for functions limited to the area outside cities;(3) a property tax in a service area for functions limited to the service area.(b) A home rule or first class city may levy a property tax subject to AS 29.45.550 - 29.45.560. A second class city may levy a property tax subject to AS 29.45.590.(c) If a tax is levied on real property or on personal property, the tax must be assessed, levied, and collected as provided in this chapter.