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/widowers of such individuals. Additionally, the bill allows municipalities to grant exemptions to widows/widowers under 60 years of age of disabled veterans or those who died from service-related causes. It also permits municipalities to provide exemptions beyond the new $250,000 threshold in cases of hardship.

The bill maintains existing provisions regarding the eligibility and application process for the exemption, including the stipulation that only one exemption can be granted per property and that the property cannot be conveyed primarily for the purpose of obtaining the exemption. The effective date of the bill is immediate upon enactment.

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