SB 120: "An Act relating to an optional exemption from municipal property taxes for residential property."
00 SENATE BILL NO. 120 01 "An Act relating to an optional exemption from municipal property taxes for residential 02 property." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 29.45.050(a) is amended to read: 05 (a) A municipality may exclude or exempt or partially exempt residential 06 property from taxation by ordinance ratified by the voters at an election. An exclusion 07 or exemption authorized by this subsection may be applied with respect to taxes levied 08 in a service area to fund the special services. An exclusion or exemption authorized by 09 this subsection may not exceed the assessed value of $100,000 [$20,000] for any one 10 residence.