Certain properties, such as municipal, state and federally owned property used exclusively for non-profit religious, charitable, cemetery, hospital or education purposes maybe eligible for an exemption. Exemption applications must be filed by January 15th of each assessment year for which the exemption is sought.
Primary Home Exemption
Thirty percent of the assessed value, up to a maximum of $20,000, of a principal residence owned and occupied by the taxpayer is exempt from taxation.
Community Purpose Exemption Application
The property of an organization not organized for business or profit making purposes and used exclusively for community purposes may be exempt from taxation under this chapter. That portion of the property regularly used for commercial purposes other than the organization's exempt purpose, shall be subject to taxation by the city. In order to qualify for this exemption, the applicant must file a written application for the exemption no later than January 15th of each assessment year for which the exemption is sought.
Fire Suppression System Exemption Application
Any building that has a fire suppression that meets the city code and is approved by the State Fire Marshall Office is eligible for an exemption of 2% of the value of the structure at the time the system was installed or value of the structure at the year 2000 (the year the exemption went into existence). The amount of the exemption will not change. It will remain constant as long as the system is in place.
Senior Citizen / Disabled Veteran Property Tax Exemption
To qualify for the property tax exemption, each senior citizen must have attained the age of 65 on or before December 31, 2011, and must have owned and occupied real property as a permanent place of abode as of December 31, 2011. New applicants must provide proof of age. A resident widow or widower age 60 to 64 is eligible if the deceased spouse of the widow or widower was eligible at the time of his or her death.
Real property owned and occupied as a permanent place of abode by a disabled veteran is exempt from taxation. "Disabled Veteran" means a disabled person separated from the military service of the United States under a condition that is not dishonorable who is a resident of the State, whose disability was incurred or aggravated in the line of duty in the military service of the United States, and whose disability has been rated 50% or more by the branch of service in which that person served or by the Veteran's Administration. Applicants must provide proof of 50% or more disability.
Senior Citizen / Disabled Veteran Homeowners Application for Hardship Exemption
In accordance with AS 29.45.030 (e) and 19AAC35.040, in case of hardship, the city may provide for exemption beyond the mandatory state exemption.
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