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AK HB291
Bill
Status
Introduced
2/4/2026
Primary Sponsor
Julie Coulombe
Click for details
AI Summary
- Expands municipal property tax exemption authority from residential property only to all real property, and removes the requirement for voter ratification for exemptions up to $75,000 per property; voter approval is required only for exemptions exceeding $75,000
- Defines "deteriorated property" eligible for landfill fee exemptions to include residential property in municipality-designated deteriorating areas (owned by entities with at least two properties and eight or more residential units) and commercial or multi-unit residential property meeting specific criteria such as government remediation orders, structures at least 15 years old, or location in a designated deteriorating area
- Narrows the senior property tax exemption (assessed value exceeding $150,000) to residents age 65 and older, removing eligibility for disabled veterans (including Alaska Territorial Guard) and surviving spouses age 60+ of previously qualified individuals
- Allows municipalities by ordinance to independently classify and exempt some or all types of personal property from ad valorem taxes and levy a flat tax on the exempted property, removing the previous requirement that the exemption be tied to AS 29.45.050(b)
- Repeals 25 subsections of AS 29.45.050 (subsections (b) through (z)), consolidating and simplifying the statutory framework for optional municipal property tax exemptions
Legislative Description
Municipal Property Tax Exemptions
Families
Last Action
COSPONSOR(S): BYNUM
2/25/2026
Committee Referrals
Community & Regional Affairs2/4/2026
Full Bill Text
No bill text available