The Alaska Senate voted 13-6 on Tuesday to pass a bill that would allow municipalities to exempt owners of newly developed properties from property taxes — or raise taxes up to 50% on owners of blighted properties. (via AlaskaBeacon)
The downtown Anchorage skylline, viewed from Tony Knowles Coastal Trail on Nov. 18, 2022. Economic development advocates in the city support a bill to allow increased development property tax exemptions and blight taxes. 13-6 on Tuesday to pass a bill that would apply both a carrot and a stick for local governments to encourage the construction and maintenance of developments.
“If it is falling into such disrepair that it’s become a danger to the neighborhood, then frankly that person who owns it, whether they’re in state or out of state, should either fix up the property or sell it to someone who can,” he said., sponsored by Wasilla Republican Rep. Jesse Sumner. Sumner said properties that are allowed to deteriorate bring down the values of neighboring properties.
The bill is supported by homebuilders and people working in economic development. Some spoke at the March 24 hearing. Robbins said the exemption provision would help close the gap for builders between costs and the returns needed to make the investment.
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