3.12.032 Residential real property exemption.
A. One hundred fifty thousand dollars of assessed value of a single parcel of residential real property owned and occupied by the owner of record as the owner’s permanent place of residence in the city shall be exempt from the city tax levy on real property within the city.
B. This exemption shall be in addition to any other exemption applicable to the property.
C. This exemption shall apply to real property owned and occupied as a permanent place of residence by a resident who is:
1. Sixty-five years of age or older;
2. A disabled veteran, including a person who was disabled in the line of duty while serving in the Alaska Territorial Guard; or
3. At least 60 years old and a widow or widower of a person who qualified for an exemption under this subsection.
D. The standards for determining eligibility for the mandatory senior citizen and disabled veteran tax exemption under PMC 3.12.030 apply to this exemption.
E. No exemption under this section may be granted except upon written application on a form provided by the assessor.
1. The owner of record must file the application for this exemption with the assessor no later than April 30th of the assessment year for which the exemption is sought.
2. The owner of record shall not be required to file an updated application for successive years unless there is a change in ownership or occupancy of the residence. (10/3/2023 election; Ord. 22-007 § 3, 2022; Ord. 15-004 § 3, 2015; Ord. 14-012 § 3, 2014)