AK HB225

Expands full property tax exemption for seniors aged 65 or older to include those aged 60+ who are widows or widowers of persons 65 or older, removing the previous requirement that the deceased spouse qualified for an exemption.

Maintains $150,000 assessed value exemption cap for disabled veterans and qualifying widows or widowers, with municipalities able to provide additional exemptions beyond $150,000 in cases of hardship.

Clarifies that disabled veterans include persons disabled while serving in the Alaska Territorial Guard in both mandatory exemption (AS 29.45.030) and optional exemption (AS 29.45.050) provisions.

Allows municipalities to grant exemptions to widows or widowers under 60 years of age of disabled veterans or those who died from service-connected causes, subject to voter approval and municipal ordinance.

Establishes that only one exemption may be granted per property, with multiple eligible parties deciding among themselves who receives the benefit.