This bill amends AS 29.45.050 to allow municipalities in Alaska to provide 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 that 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 for residential properties owned by first-time homebuyers.

The bill defines key terms such as "dwelling unit," "long-term rental unit," and "low-income family," ensuring clarity in the application of these exemptions. It also specifies that short-term rental units do not include certain types of accommodations like hotels or government-operated temporary housing. 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