The Property Appraisal Division is headed by the Municipal Assessor and is charged with locating, identifying and valuing taxable real property and personal property within the municipality in order to provide a fair and equitable basis for taxation. The division maintains a description of more than 1 million parcels of real property and 10,000 accounts of personal property each year. It also processes and tracks property exemptions and maintain maps showing the ownership and tax districts for the entire municipality of Anchorage, Alaska. The Property Appraisal Division additionally serves as a source of information regarding valuation, ownership and the description of various properties.