This bill proposes amendments to AS 29.45.050, allowing municipalities in Alaska to implement optional property tax exemptions for various types of residential properties. Specifically, it introduces provisions for the exemption or partial exemption of structures converted from short-term to long-term rental units, mobile home parks for up to ten years post-construction or renovation, and real property rented to low-income families, provided the rent does not exceed 30% of the family's income. Additionally, the bill allows for exemptions on properties owned and occupied as a permanent residence by local residents and those owned by first-time homebuyers.

The bill defines key terms such as "long-term rental unit" and "short-term rental unit," clarifying the duration of rental agreements that qualify for these exemptions. It also specifies that certain types of short-term rentals, such as hotels and government-operated temporary housing, are excluded from this definition. Overall, the legislation aims to support affordable housing initiatives and encourage long-term rental options within municipalities.

Statutes affected:
HB0013A, AM HB 13, introduced 01/10/2025: 29.45.050
HB0013B, AM SSHB 13, introduced 03/10/2025: 29.45.050
HB0013C, AM CSSSHB 13(CRA), introduced 04/25/2025: 29.45.050