ITEM TITLE:
Work Session: Introductory Conversation on Municipal Property Tax Exemption Options Under HB13
SUBMITTED BY: Nathan Duval, City Manager
FISCAL NOTES:
Expenditure Required: n/a
Unencumbered Balance: n/a
Funding Source: n/a
RECOMMENDATION:
n/a
SUMMARY STATEMENT:
HB 13 adds five additional optional municipal property tax exemptions to state law, one of which is a flexible exemption for a property owners’ primary residence and permanent place of abode. This could be a lever for providing some property tax relief to Valdez homeowner and Council has prioritized looking at options.
HB 13 was passed by the Alaska Legislature and allowed to become law without the Governor’s signature. The effective date of this law is September 20, 2026. So changes can be made in advance of the 2027 tax year.
Council’s Housing Subcommittee will have met on Monday, August 3rd to discuss options and will share their thoughts and recommendations with the full Council at this work session.
Attached are the following:
-Memo from City Manager of administrative burden and other considerations for each of the 5 new exemptions under HB 13
- Full text of the enrolled (final) version of HB 13
- Sponsor summary explain HB 13.