Bill > HB13

This bill provides municipalities with optional property tax exemption authorities for several specific types of residential properties. These exemptions include: (1) structures converted from short-term to long-term rental units, with clear definitions distinguishing between short-term (30 days or less) and long-term (31 days or more) rentals; (2) mobile home parks, which can be exempted for up to 10 years after construction or renovation; (3) properties rented to low-income families, where monthly rent does not exceed 30 percent of the family's income, using federal definitions of low-income families; (4) real property owned and occupied as a permanent residence by a municipal resident; and (5) residential real property owned and occupied by first-time home buyers. These exemptions are permissive, meaning municipalities can choose to adopt them through local ordinances, giving local governments flexibility in property tax policy to potentially incentivize affordable housing, long-term rentals, and homeownership. The bill amends existing Alaska state law (AS 29.45.050) to provide these new optional exemption categories, allowing municipalities to tailor their property tax approaches to local housing needs and economic conditions.

Government Affairs

https://www.akleg.gov/basis/Bill/Detail/34?Root=HB13