CSHB 241(FIN): "An Act relating to optional exemptions from municipal property taxes on residential property and to an exemption from and deferral of municipal property taxes on certain types of deteriorated property."
00 CS FOR HOUSE BILL NO. 241(FIN) 01 "An Act relating to optional exemptions from municipal property taxes on residential 02 property and to an exemption from and deferral of municipal property taxes on certain 03 types of deteriorated property." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. AS 29.45.050(a) is amended to read: 06 (a) A municipality may exclude or exempt or partially exempt residential 07 property from taxation by ordinance ratified by the voters at an election. An 08 exclusion or exemption authorized by this subsection may be applied with respect 09 to taxes levied in a service area to fund the special services. An exclusion or 10 exemption authorized by this subsection [SECTION] may not exceed the assessed 11 value of $25,000 [$10,000] for any one residence. 12 * Sec. 2. AS 29.45.050(o) is amended to read: 13 (o) A municipality may by ordinance partially or totally exempt all or some 14 types of deteriorated property from taxation for up to 10 [FIVE] years beginning on or
01 any time after the day substantial rehabilitation, renovation, demolition, removal, or 02 replacement of any structure on the property begins. A municipality may by 03 ordinance permit deferral of payment of taxes on all or some types of deteriorated 04 property for up to five years beginning on or any time after the day substantial 05 rehabilitation, renovation, demolition, removal or replacement of any structure on the 06 property begins. However, if the ownership of property for which a deferral has been 07 granted is transferred, all tax payments deferred under this subsection are immediately 08 due and the deferral ends, or, if ownership of any part of the property is transferred, all 09 tax payments are immediately due. The amount deferred each year is a lien on that 10 property for that year. Only one exemption and only one deferral may be granted to 11 the same property under this subsection, and, if an exemption and a deferral are 12 granted to the same property, both may not be in effect on the same portion of the 13 property during the same time. An ordinance adopted under this subsection must 14 include specific eligibility requirements and require a written application for each 15 exemption or deferral. In this subsection, "deteriorated property" means real property 16 that is commercial property not used for residential purposes or that is multi-unit 17 residential property with at least eight residential units, and that meets one of the 18 following requirements: 19 (1) within the last five years, has been the subject of an order by a 20 government agency requiring environmental remediation of the property or 21 requiring the property to be vacated, condemned, or demolished by reason of 22 noncompliance with laws, ordinances, or regulations; 23 (2) has a structure on it not less than 15 years of age that has 24 undergone substantial rehabilitation, renovation, demolition, removal, or 25 replacement, subject to any conditions prescribed in the ordinance; or 26 (3) is located in a deteriorating or deteriorated area with boundaries 27 that have been determined by the municipality. 28 * Sec. 3. AS 29.45.050 is amended by adding a new subsection to read: 29 (s) A municipality may by ordinance designate an area within its boundaries 30 as an eligible area for purposes of this subsection and exempt from taxation an amount 31 not to exceed $10,000 of the assessed value of real property within the area that is
01 owned and occupied as a permanent place of abode by a law enforcement officer. The 02 ordinance must include a definition of "law enforcement officer." A municipality that 03 adopts an ordinance under this subsection may not request state funds to cover any 04 municipal budget shortfall caused by the ordinance. In this subsection, "eligible area" 05 means an area 06 (1) that meets the eligibility requirements under a federal program of 07 special assistance for urban development, neighborhood revitalization, or law 08 enforcement, without regard to whether an application for the federal assistance on 09 behalf of the area has been made or whether the area has actually received or is 10 receiving the federal assistance; or 11 (2) with a statistically higher occurrence of crime than the municipality 12 as a whole. 13 * Sec. 4. The uncodified law of the State of Alaska enacted in sec. 2, ch. 8, SLA 1999, as 14 amended by sec. 1, ch. 102, SLA 2002, is amended to read: 15 Sec. 2. AS 29.45.050(o) is repealed July 1, 2010 .