Senior Citizen Property Tax
By Ed Zastrow
April 05, 2016
Senate Bill 210, which was introduced March 30th, removes the mandatory exemption and instead allows municipalities to place before voters an optional property tax exemption. If the City of Ketchikan chose not to enact the optional exemption, it would collect an estimated $455,749 in additional property taxes
Regardless of whether the Ketchikan Gateway Borough would exercise the optional exemption, it would be required to pay more money to the State of Alaska to fund education. SB 210 would result in a reduction of State Foundation funding for Ketchikan's schools by approximately $370,000 annually beginning July 1, 2018. The Ketchikan Gateway Borough would be required to backfill that reduction.
The senior citizen and disabled veteran property tax exemption program was first started 42 years ago. The exemption was limited to the first $150,000 of the assessed value of real property in 1987.
Ketchikan has long recognized the importance of senior citizens in this community. For 42 years, the Borough has provided a sales tax exemption for senior citizens. The City of Ketchikan has also long granted a sales tax exemption for seniors. The current Comprehensive Plan for Ketchikan Gateway Borough recognizes the need for, and supports efforts in providing for safe and accessible housing for seniors.
Received March 31, 2016 - Published April 05, 2016
Viewpoints - Opinion Letters:
Representations of fact and opinions in letters are solely those of the author.
E-mail your letters
& opinions to email@example.com
Published letters become the property of SitNews.