An Act relating to exemptions for municipal property taxes for certain primary residences; relating to property tax equivalency payments for certain residents; and providing for an effective date.

Prepared by: Senate Finance
Updated: April 29, 1999

Senate Bill 151 addresses the municipal property tax exemptions for senior citizens and disabled veterans. Current statute, AS 29-45-030 (e), requires that municipalities must exempt those citizens from paying property tax, up to $150,000 of assessed value. SB 151 amends this statute to give municipalities control over the program by allowing either whole or partial tax exemptions in these cases.

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