AK HB41

Allows municipalities to classify and exclude, exempt, or partially exempt one or more types of residential property from taxation through voter-approved ordinance.

Increases the maximum assessed value exemption limit from $20,000 to $50,000 for any single residence.

Permits exemptions to apply to taxes levied in service areas that fund special services.

Requires voter ratification at an election before a municipality can implement residential property tax exemptions.