Residential Real Property Tax Exemption

Information on Owner-Occupied Residential Real Property Tax Exemption

Ten percent of the assessed value of residential real property, up to a maximum of $20,000.00 of assessed value, shall be exempt from property taxation if the property has been owned and occupied as the owner's primary residence and permanent place of abode for at least 185 days in the year prior to January 1 of the exemption year. Upon initial application, the owner must have been a resident of the State of Alaska for the entire year prior to the exemption year. Additionally, in each subsequent year, the property shall be owned and occupied as the primary residence and permanent place of abode of the owner for at least 185 days in the year prior to January 1 of the exemption year.

The owner of record shall file the application for an exemption under this section with the assessor no later than March 15th of the assessment year for which the exemption is sought. The owner of record shall not be required to file an updated application for successive tax years, if there is no change in ownership, residency, or permanent place of abode.