32-LS1406\A
SENATE BILL NO. 172
IN THE LEGISLATURE OF THE STATE OF ALASKA
THIRTY-SECOND LEGISLATURE - SECOND SESSION
BY SENATORS WIELECHOWSKI, Begich, Gray-Jackson, Kawasaki
Introduced: 1/26/22
Referred: Community and Regional Affairs, Labor and Commerce
A BILL
FOR AN ACT ENTITLED
1 "An Act increasing the residential property tax exemption."
2 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
3 * Section 1. AS 29.45.050(a) is amended to read:
4 (a) A municipality may exclude or exempt or partially exempt residential
5 property from taxation by ordinance ratified by the voters at an election. An exclusion
6 or exemption authorized by this subsection may be applied with respect to taxes levied
7 in a service area to fund the special services. An exclusion or exemption authorized by
8 this subsection may not exceed the assessed value of $75,000 [$50,000] for any one
9 residence except that a municipality may, by ordinance, annually adjust the
10 municipality's [THEIR] voter-authorized exemption by the amount calculated by the
11 State Assessor to reflect the increase, if any, in the annual average cost of living, using
12 the United States [U.S.] Department of Labor Consumer Price Index for Urban
13 Alaska [CPI-U FOR ANCHORAGE].
SB0172A -1- SB 172
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Statutes affected:
SB0172A, AM SB 172, introduced 01/26/2022: 29.45.050