This bill proposes an amendment to the municipal property tax exemption for certain residents in Alaska. Specifically, it increases the exemption amount from $150,000 to $250,000 for real property owned and occupied as the primary residence by residents who are 65 years of age or older, disabled veterans, or widows or widowers of such individuals. Additionally, the bill allows municipalities to grant exemptions to widows or widowers under 60 years of age of disabled veterans or those who died from service-connected causes while serving in the armed forces.

The legislation also stipulates that municipalities may provide exemptions beyond the new $250,000 threshold in cases of hardship, following departmental regulations. It maintains that only one exemption can be granted per property and outlines the process for determining eligibility and application procedures. The bill clarifies the definition of "widow or widower" and establishes that the assessor can deny exemptions if the property was primarily conveyed to obtain the exemption. The act is set to take effect immediately upon passage.

Statutes affected:
HB0169A, AM HB 169, introduced 04/02/2025: 29.45.030