HB 299: "An Act relating to and increasing the municipal property tax exemption on residences of certain seniors and others; and providing for an effective date."
00 HOUSE BILL NO. 299 01 "An Act relating to and increasing the municipal property tax exemption on residences 02 of certain seniors and others; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 29.45.030(e) is amended to read: 05 (e) The real property owned and occupied as the primary residence and 06 permanent place of abode by a (1) resident 65 years of age or older; (2) disabled 07 veteran; or (3) resident at least 60 years old who is the widow or widower of a person 08 who qualified for an exemption under (1) or (2) of this subsection, is exempt from 09 taxation on the first $250,000 [$150,000] of the assessed value of the real property. A 10 municipality may, in case of hardship, provide for exemption beyond the first 11 $250,000 [$150,000] of assessed value in accordance with regulations of the 12 department. Only one exemption may be granted for the same property and, if two or 13 more persons are eligible for an exemption for the same property, the parties shall 14 decide between or among themselves who is to receive the benefit of the exemption.
01 Real property may not be exempted under this subsection if the assessor determines, 02 after notice and hearing to the parties, that the property was conveyed to the applicant 03 primarily for the purpose of obtaining the exemption. The determination of the 04 assessor may be appealed under AS 44.62.560 - 44.62.570. 05 * Sec. 2. AS 29.45.050(i) is amended to read: 06 (i) A municipality may by ordinance approved by the voters exempt from 07 taxation the assessed value that exceeds $250,000 [$150,000] of real property owned 08 and occupied as a permanent place of abode by a resident who is 09 (1) 65 years of age or older; 10 (2) a disabled veteran, including a person who was disabled in the line 11 of duty while serving in the Alaska Territorial Guard; or 12 (3) at least 60 years old and a widow or widower of a person who 13 qualified for an exemption under (1) or (2) of this subsection. 14 * Sec. 3. This Act takes effect January 1, 2006.