HB 21: "An Act increasing the maximum assessed value that a municipality may exempt from residential property taxation and allowing cost-of-living adjustments by ordinance without voter approval."
00 HOUSE BILL NO. 21 01 "An Act increasing the maximum assessed value that a municipality may exempt from 02 residential property taxation and allowing cost-of-living adjustments by ordinance 03 without voter approval." 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 exclusion 08 or exemption authorized by this subsection may be applied with respect to taxes levied 09 in a service area to fund the special services. An exclusion or exemption authorized by 10 this subsection may not exceed the assessed value of $100,000 [$20,000] for any one 11 residence, except that a municipality may increase the amount of the exclusion or 12 exemption by ordinance, without voter approval, if the increase does not exceed 13 the percentage change for the preceding calendar year in the Consumer Price 14 Index for the Anchorage metropolitan area for all urban consumers compiled by
01 the United States Department of Labor, Bureau of Labor Statistics.