00                            SENATE BILL NO. 88                                                                          
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 resident who is (1) [RESIDENT] 65 years of age or                               
07       older; (2) a disabled veteran; or (3) [RESIDENT] at least 60 years of age and [OLD                        
08       WHO IS] the widow or widower of a person who qualified for an exemption under (1)                                 
09       or (2) of this subsection, is exempt from taxation on the first $250,000 [$150,000] of                        
10       the assessed value of the real property. A municipality may, in case of hardship,                                 
11       provide for exemption beyond the first $250,000 [$150,000] of assessed value in                               
12       accordance with regulations of the department. Only one exemption may be granted                                  
13       for the same property and, if two or more persons are eligible for an exemption for the                           
14       same property, the parties shall decide between or among themselves who is to receive                             

01       the benefit of the exemption. Real property may not be exempted under this subsection                             
02       if the assessor determines, after notice and hearing to the parties, that the property was                        
03       conveyed to the applicant primarily for the purpose of obtaining the exemption. The                               
04       determination of the 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, 2008.