AK HB338

Removes the age requirement of 65 years or older for mandatory municipal property tax exemptions on primary residences, replacing it with disabled veteran status as the primary qualifying criterion.

Maintains the $150,000 exemption cap on assessed property value for disabled veterans and widows/widowers of qualifying individuals who are at least 60 years old.

Eliminates the requirement that voter approval be obtained for municipalities to grant optional exemptions to widows/widowers under age 60 or those of service-connected disability death veterans.

Adds optional exemption authority for municipalities to exempt property value exceeding $150,000 for residents 65 years of age or older or their 60+ year old widows/widowers.

Takes effect January 1, 2017.