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.