SB 193: "An Act relating to an optional deferral of municipal property taxes on certain primary residences owned and occupied by individuals with incomes at or below federal poverty guidelines for the state."
00 SENATE BILL NO. 193 01 "An Act relating to an optional deferral of municipal property taxes on certain primary 02 residences owned and occupied by individuals with incomes at or below federal poverty 03 guidelines for the state." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. AS 29.45 is amended by adding a new section to read: 06 Sec. 29.45.052. Tax deferral for primary residences. (a) A municipality 07 may by ordinance provide for the deferral of all taxes on property that is owned, in 08 whole or in part, by an individual 09 (1) who occupies and has occupied the property for at least 10 10 consecutive years as the individual's primary residence; and 11 (2) whose income is at or below federal poverty guidelines for the state 12 set by the United States Department of Health and Human Services. 13 (b) An individual must apply for each year that a deferral is sought and supply 14 proof of eligibility for the deferral for that year in accordance with requirements set
01 out in the ordinance that authorizes the deferral. Taxes for a year that are deferred do 02 not become payable until ownership of the property is transferred from the individual 03 who obtained the deferral. A municipality that provides for a deferral of property 04 taxes under this subsection may not impose interest on the taxes deferred between the 05 time the deferral is granted and the time the taxes become payable.