ITEM TITLE:
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Approval of Senior Citizen Hardship Property Tax Exemption for Barbara Ezell
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SUBMITTED BY: Allie Ferko, CMC, Deputy City Clerk
FISCAL NOTES:
Expenditure Required: N/A
Unencumbered Balance: N/A
Funding Source: N/A
RECOMMENDATION:
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Approve senior citizen hardship property tax exemption for Barbara Ezell
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SUMMARY STATEMENT:
The City Clerk's office received an application for the Senior Citizen Hardship Property Tax Exemption Program from Barbara Ezell.
In accordance with AS 29.45.030(2) and 3AAC 135.040, a municipality may, in case of hardship, provide for an exemption beyond the mandatory Senior Citizen & Disabled Veteran Property Tax Exemption. (Adopted by reference in Valdez Municipal Code 3.12.030.3 & 3.12.030.3a)
The mandatory exemption provides that the first $150,000 of the assessed value of real property owned and occupied by the following is exempt from property taxes:
* A senior citizen 65 years of age or older.
* A disabled veteran with a disability rating of 50% above.
* A resident at least 60 years of age who is the widow/widower of a previously qualified applicant is exempt from property taxes.
To qualify for the mandatory exemption, the real property must also be the applicant's primary residence and permanent place of abode. Both state statute and municipal code require an annual application from the eligible citizen to receive the mandatory exemption. The mandatory exemption does not require City Council action if the citizen meets eligibility requirements and applies prior to the January 15th deadline.
Senior Citizen & Disabled Veteran Hardship Property Tax Exemption Program applications must be submitted each year, but are required to be reviewed and approved by City Council. Individuals are only eligible to apply for the hardship exemption if they first qualify for the mandatory exemption.
Furthermore, to qualify for the hardship exemption, the amount of the applicant's tax bill must be greater than ...
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