Session: State Capitol, Room 508 Juneau, AK 99801-1182 Phone: (907) 465-3892 Fax: (907) 465-6595 Interim: 716 W 4th Avenue, Suite 400 Anchorage, AK 99501-2133 Phone: (907) 269-0234 Fax: (907) 269-0238

Sponsor Statement for SB 337
Eligibility For Municipal Tax Exemption

An Act relating to eligibility for an exemption from municipal property taxes for certain seniors and disabled veterans.

The Senior Citizen and Disabled Veteran Property Tax Exemption program is a statutorily mandated program that local communities are required to provide. Originally, the cost of the program to local governments in lost property taxes was reimbursed by the state. But currently, the state provides no such compensation and this unfunded mandate has put a tremendous financial burden on local governments.

Committee Substitute for Senate Bill 337 gives local governments more flexibility for determining who receives a property tax exemption under this program. Committee Substitute for Senate Bill 337 allows local governments to apply the same eligibility requirements as the Permanent Fund Dividend program to the senior citizen and disabled veteran property tax exemption.

The original intent of the property tax exemption was to encourage seniors and disabled veterans to remain in Alaska. Limiting its applicability to only those who really live here is common sense and good public policy.

DD/mjw

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