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Assembly introduces proposal to raise residential property tax exemption to $75,000; would require voter approval
Summary
Ordinance 2025‑16, introduced July 8, would increase the borough’s residential property tax exemption from $50,000 to $75,000 subject to voter approval. Sponsor and administration said the change could reduce borough property tax revenue by roughly $1.9 million and that existing stacking rules mean senior exemptions would also increase unless the
The Finance Committee on July 8 introduced Ordinance 2025‑16, a proposal to raise the Kenai Peninsula Borough residential property tax exemption from $50,000 to $75,000, subject to voter approval.
Assemblymember Baseman, sponsor of the measure, said the change is intended to help homeowners cope with rising valuations and living costs and…
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