This bill amends the existing municipal property tax exemption law in Alaska to increase the exemption amount for certain residents. Specifically, it raises the exemption on the assessed value of real property owned and occupied as a primary residence by eligible individuals—those who are 65 years of age or older, disabled veterans, or widows/widowers of such individuals—from $150,000 to $250,000. Additionally, the bill allows municipalities to grant exemptions to widows or widowers under 60 years of age of disabled veterans and provides for potential exemptions beyond the $250,000 limit in cases of hardship.

The bill also clarifies the eligibility criteria and application procedures for these exemptions, emphasizing 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