SB 232: "An Act relating to an optional municipal property tax exemption for residential property."
00 SENATE BILL NO. 232 01 "An Act relating to an optional municipal property tax exemption for residential 02 property." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 29.45.050(a) is amended to read: 05 (a) A municipality may classify residential property as to type and exclude, 06 [OR] exempt, or partially exempt one or more types of residential property from 07 taxation by ordinance ratified by the voters at an election. An exclusion or exemption 08 authorized by this subsection may be applied with respect to taxes levied in a service 09 area to fund the special services. An exclusion or exemption authorized by this 10 subsection may not exceed the assessed value of $50,000 [$20,000] for any one 11 residence.