The Assembly shall annually, by ordinance, levy a tax on the full and true value of taxable property taxable under AS 43.56 as assessed by the Alaska Department of Revenue; provided, that the total value of assessed property when combined with the total value of assessed property taxable under Borough and state law shall not exceed the product of 225 percent of the average per capita assessed full and true value of property in the state multiplied by the number of Borough residents. (Ord. 2016-40 § 57, 2016; Ord. 74-3, 1974. 2004 Code § 3.46.010.)