Alaska · Property taxAlaska senior and disabled veteran exemption: the first $150,000 of a primary residence

Alaska requires municipalities that levy property tax to exempt the first $150,000 of assessed value of real property owned and occupied as the primary residence and permanent place of abode by a resident who is 65 or older, a disabled veteran, or at least 60 and the widow or widower of a person who qualified on either ground (AS 29.45.030(e)). A municipality may, with voter approval, extend the exemption to certain younger widows or widowers and may provide more in hardship cases (§29.45.030(e)). Only one exemption is granted for the same property, and none applies if the assessor finds after notice and hearing that the property was conveyed to the applicant mainly to obtain the exemption (§29.45.030(e)). The exemption requires a written application under the procedures and deadlines each municipality sets by ordinance, and a municipality may also require eligibility for the permanent fund dividend (§29.45.030(f)). A buyer who qualifies applies with the municipality after taking title and moving in.