An Act relating to a municipal property tax exemption for real property owned and occupied as the primary residence and permanent place of abode by a resident 65 years of age or older, a disabled veteran, or the widow or widower of a resident 65 years of age or older or a disabled veteran; and providing for an effective date.

HB 169 would create a property tax exemption for Alaska homeowners aged 65+ who live in their homes as their primary residence, disabled veterans, or surviving spouses (widows/widowers) of qualifying individuals. The bill exempts the first $250,000 of a home’s assessed value from municipal property taxes, increasing the prior $150,000 limit. Municipalities may implement this exemption and provide additional relief in hardship cases or for surviving spouses under 60 who lost a spouse due to service-connected causes. The exemption applies only to the primary residence, requires proof the home wasn’t bought solely for tax benefits, and limits one exemption per property. (Bill: HB 169, *An Act relating to a municipal property tax exemption...*)