CSHB 299(CRA): "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 CS FOR HOUSE BILL NO. 299(CRA) 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 who meets the eligibility requirements 07 [65 YEARS OF AGE OR OLDER; (2) DISABLED VETERAN; OR (3) RESIDENT 08 AT LEAST 60 YEARS OLD WHO IS THE WIDOW OR WIDOWER OF A 09 PERSON WHO QUALIFIED FOR AN EXEMPTION UNDER (1) OR (2)] of this 10 subsection, is exempt from taxation on the [FIRST $150,000 OF THE] assessed value 11 of the real property, or a portion of it, as provided in this subsection. A 12 municipality may, in case of hardship, include in the [PROVIDE FOR] exemption 13 additional [BEYOND THE FIRST $150,000 OF] assessed value in accordance with 14 regulations of the department. Only one exemption under this subsection may be
01 granted for the same property, and, if two or more persons are eligible for an 02 exemption for the same property, the parties shall decide between or among 03 themselves who is to receive the benefit of the exemption. Real property may not be 04 exempted under this subsection if the assessor determines, after notice and hearing to 05 the parties, that the property was conveyed to the applicant primarily for the purpose 06 of obtaining the exemption. The determination of the assessor may be appealed under 07 AS 44.62.560 - 44.62.570. Unless increased because of hardship, the exemption is 08 available in the following amounts to the following residents: 09 (1) a disabled veteran - the first $250,000 of the assessed value; 10 (2) a resident 60 years of age or older who is the widow or widower 11 of a person who qualified for an exemption under (1) of this subsection - the first 12 $250,000 of the assessed value; 13 (3) a resident 65 years of age or older with an income that meets 14 the requirements of AS 47.45.320(a)(3) or, if it is repealed, former 15 AS 47.45.320(a)(3) - the first $250,000 of the assessed value; 16 (4) a resident 60 years of age or older with an income that meets 17 the requirements of AS 47.45.320(a)(3) or, if it is repealed, former 18 AS 47.45.320(a)(3) who is the widow or widower of a person who qualified for an 19 exemption under (3) or (5) of this subsection - the first $250,000 of the assessed 20 value; 21 (5) a resident 65 years of age or older with an income that is more 22 than that which meets the requirements of AS 47.45.320(a)(3) or, if it is repealed, 23 former AS 47.45.320(a)(3) but not more than twice that which meets those 24 requirements - the first $150,000 of the assessed value; 25 (6) a resident 60 years of age or older with an income that is more 26 than that which meets the requirements of AS 47.45.320(a)(3) or, if it is repealed, 27 former AS 47.45.320(a)(3) but not more than twice that which meets those 28 requirements who is the widow or widower of a person who qualified for an 29 exemption under (3) or (5) of this subsection - the first $150,000 of the assessed 30 value. 31 * Sec. 2. AS 29.45.050(i) is amended to read:
01 (i) In addition to the exemption required under AS 29.45.030(e), a [A] 02 municipality may by ordinance approved by the voters exempt from taxation all or a 03 portion of the assessed value [THAT EXCEEDS $150,000] of real property owned 04 and occupied as a permanent place of abode by a resident who is 05 (1) 65 years of age or older; 06 (2) a disabled veteran, including a person who was disabled in the line 07 of duty while serving in the Alaska Territorial Guard; or 08 (3) at least 60 years old and a widow or widower of a person who 09 qualified for an exemption under (1) or (2) of this subsection. 10 * Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section to 11 read: 12 APPLICABILITY. (a) AS 29.45.030(e), as amended by sec. 1 of this Act, first applies 13 in 2007 and applies thereafter. 14 (b) Notwithstanding (a) of this section and AS 29.45.030(e), as amended by sec. 1 of 15 this Act, a resident who was eligible for an exemption under AS 29.45.030(e) as it read before 16 the effective date of this Act shall continue to be eligible for the exemption under 17 AS 29.45.030(e) as it read before the effective date of this Act. 18 * Sec. 4. This Act takes effect January 1, 2007.