AK HB317

Removes the 10 percent gross income requirement for farm structure tax exemptions, allowing municipalities to exempt farming structures based solely on active engagement in farming.

Expands farm use land assessment to include structures on farm use land that are used for farm operations, assessed at farm use value rather than subdivided or nonfarm value.

Eliminates the declaration of intent procedure that allowed new farmers without farm income history to file for farm use classification with anticipated income projections.

Requires municipalities without existing farm structure tax exemption ordinances to hold a voter referendum at the next regular election (at least 20 days after effective date) on total exemption of qualifying farm structures from taxation.

Takes effect January 1, 2025.