Are There Tax Exemptions Available for Residential Property Owners?

(Quoted from the State of Alaska Website)

Yes, there are some mandatory exemptions and some optional exemptions. These exemptions, however, apply only to certain properties. Under AS 29.45.030(e), there is a mandatory exemption up to the first $150,000 of assessed value for the primary residence of a senior citizen, age 65 years and older, or a disabled veteran with a service connected disability of 50% or more. This exemption must be applied for by a deadline enacted at the local level. (A municipality may waive timely filing for good cause.) All municipalities are required to grant this exemption.

AS 29.45.050 identifies an extensive list of optional exemptions a municipality may enact, including but not limited to, up to $50,000 of a primary residence and provides the option of increasing the senior citizen/disabled veteran exemption in excess of the first $150,000. Contact the local assessors' office (see "Directory of Tax Jurisdictions" ) to find out what exemptions are available in the particular municipality. The local assessor's office should have application forms available to apply for exemptions.