Borough land, other than land received through tax foreclosure under AS 29.45.450 held for less than 10 years, shall be appraised within 90 days prior to the date fixed for its disposal. The appraisal shall be performed by the assessor or a qualified appraiser and reflect the fair market value of the land and borough improvements located thereon. Land received through tax foreclosure under AS 29.45.450 which has been held by the borough for less than 10 years will only be appraised under this section if required by the assembly. [Ord. FY2021-25 §4, 2021; Ord. 80-28-O §1, 1980].