Exemption for Senior Citizens and Disabled Veterans with Local Option

State

Alaska

Year

2010

Variations in Receipt of Benefit

No Variation in Receipt of Benefits

Benefit Type

Exemption

Benefit

The first $150,000 is exempt from taxation. By local option, municipalities may provide for exemption in addition to the first $150,000 in accordance with state regulations.

How is Benefit Disbursed

Exemption from assessed value

Eligible Property Type

Residential

Characteristics of Eligible Property

Only residential property is eligible for this benefit.

Eligibility Criteria

Age

Disability

Homeowner

Principal Residence

Veteran

Surviving Spouse

Other Criteria

Description of Eligibility Criteria

The exemption applies to real property owned and occupied as a primary residence by: (1) residents age 65 or older; (2) disabled veterans with a 50% or greater service-related disability; or (3) residents age 60 or older who are surviving spouses of a person otherwise qualified for this exemption. At local option, local governments may adopt ordinances prescribing that individuals must meet the eligibility criteria of the Alaska Permanent Fund Dividend in order to be eligible. Local option may also choose to partially or wholly exempt the permanent residence of a widow or widower of a veteran who died of injuries while on active duty.

Local Option in Adoption of Program

Local government is unable to exercise an option

Local Option Regarding Program Features

Local option regarding program features

State Funding for Local Tax Loss

State and local government share the local tax loss

Description of State Funding for Tax Loss

The state reimburses local governments for that portion of the tax loss that is not discretionary to the local governing body. State reimbursement is conditional upon annual appropriations. However, the state has not appropriated revenues to fund this program since FY1997. Program costs have exceeded state funding levels since 1986.

Enrollment Data

In 2010, there were 27,049 approved applications, for a total assessed exempt value of $3,662,979,523 and $49,749,270 in total exempt taxes.

Record ID

AK103_RR10

Footnotes

Applications are required but municipalities are responsible for establishing application procedures and deadlines. If the applicant has already paid their taxes upon establishing eligibility, overpaid taxes shall be refunded.

Sources

Alaska Stat. § 29.45.030; Alaska Stat. § 29.45.050(i)(in effect for 2010)
Alaska Taxable 2010 (2011) p. 65 Department of Commerce [http://www.commerce.state.ak.us/dca/osa/pub/10Taxable.pdf ]
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