"This legislation will enable them to keep more of their own money by lowering taxes paid on their homes."
- Rep. Kohring
(Juneau) – Rep. Vic Kohring (R-Wasilla/Mat-Su) has sponsored House Bill 299, which would increase the senior citizen tax exemption from $150,000 to $250,000.
With significantly higher property taxes, particularly in the Mat-Su Borough, the need to increase the exemption is critical, according to Kohring. "Many seniors, especially those on a low, fixed income, are finding it very difficult to keep up with their property taxes. In fact, some are even in danger of losing their homes," he said.
Kohring added, "Seniors made it comfortable for us to live in Alaska. Many labored their entire lives to make our state productive and safe. This legislation will enable them to keep more of their own money by lowering taxes paid on their homes."
The legislation is awaiting a hearing in the House Community & Regional Affairs Committee.