Alaska HB169 establishes a municipal property tax exemption for certain residents.

Alaska HB169 amends the property tax exemption to cover real property owned and occupied by residents who are 65 years of age or older, disabled veterans, or widows or widowers of such individuals. The first $250,000 of the assessed value of the property is exempt from taxation. A municipality may grant an exemption beyond this amount in cases of hardship, subject to department regulations. Only one exemption can be granted per property, and if multiple eligible persons exist, they must decide among themselves. The bill takes effect immediately.

Alaska HB169 establishes a municipal property tax exemption for certain residents.

Alaska HB169 amends the property tax exemption to cover real property owned and occupied by residents who are 65 years of age or older, disabled veterans, or widows or widowers of such individuals. The first $250,000 of the assessed value of the property is exempt from taxation. A municipality may grant an exemption beyond this amount in cases of hardship, subject to department regulations. Only one exemption can be granted per property, and if multiple eligible persons exist, they must decide among themselves. The bill takes effect immediately.