AK HB84

Removes restriction on school district municipalities' ability to exempt economic development property from taxation, eliminating the prior limitation to only tax amounts exceeding required local school contributions.

Allows service area boards to object to economic development tax exemptions or deferrals within 60 days of ordinance enactment by resolution.

Creates new authority for municipalities to levy taxes on real property designated as blighted, subject to ordinance establishing blight standards, designation procedures, tax rates, and remediation requirements.

Permits property owners to qualify for reduced tax rates on blighted properties by submitting and fulfilling municipality-approved remediation or redevelopment plans.

Prohibits municipalities from levying blighted property taxes on primary residences and takes effect immediately.