AK HB169

HB 169 - Municipal Property Tax Exemption

• Increases the municipal property tax exemption from $150,000 to $250,000 of assessed value for primary residences owned by residents 65 years or older, disabled veterans, and qualifying widows/widowers

• Qualifying widows/widowers must be at least 60 years old and their deceased spouse must have qualified for the senior or disabled veteran exemption

• Municipalities may opt to extend the exemption to widows/widowers under 60 whose spouse died from a service-connected cause while serving in the U.S. armed forces or National Guard

• Municipalities may grant exemptions beyond $250,000 in hardship cases, following department regulations

• Takes effect immediately upon passage