AK HB254

Caps annual property assessment increases at 5% over the previous year's assessed value

Allows assessors to exceed the 5% cap when increases are based on improvements made to the property

Permits assessment increases above 5% when the assessor obtains new information about the property that was unavailable during the prior assessment

Amends AS 29.45.110 by adding new subsection (f) to existing property assessment statutes