ITEM TITLE:
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Approval of Waiver of Annual Application Deadline for Senior Citizen Property Tax Exemption Program - Applicant: Leia Alessandrini - 105 Dadina Street
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SUBMITTED BY: Allie Ferko, MMC, Deputy City Clerk
FISCAL NOTES:
Expenditure Required: N/A
Unencumbered Balance: N/A
Funding Source: N/A
RECOMMENDATION:
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Approve waiver of annual application deadline for senior citizen property tax exemption program - Applicant: Leia Alessandrini - 105 Dadina Street
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SUMMARY STATEMENT:
Under Alaska Statute (AS 29.45.030) and Valdez Municipal Code (VMC 3.12.030), real property owned and occupied as the primary residence by a senior citizen 65 years of age or older is exempt from taxation on the first one hundred and fifty thousand dollars of the assessed value of the real property. To be eligible for this program, property owners must be 65 years or older on January 1st of the applicable assessment year.
The senior citizen property owner is required by statute and code to file annually for the exemption on a standard form provided by the state of Alaska. The annual application must be filed no later than January 15th of the assessment year for which the exemption is sought.
Applications are filed with the City Clerk's Office for processing and acceptance.
As a courtesy to our local seniors, especially potential new filers, the City Clerk's Office advertises the program, application requirements, and deadline each year in all the normal public notice locations. The City Clerk's Office also provides multiple courtesy reminder letters and phone calls to past year filers, reminding them of the application deadline.
If the annual application is filed before the deadline and the applicant meets the exemption program requirements, the City Clerk's Office processes the applicant's paperwork and the exemption is then automatically applied to the appropriate property tax account.
Under Valdez Municipal Code (VMC 3.12.030.3a), only the City Counci...
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