Alaska Senate advances bill allowing municipalities to fully exempt property taxes on new buildings, impose tax on ‘blighted’ properties

The Alaska Senate has advanced legislation that would allow municipal governments to levy taxes on “blighted” buildings and fully exempt property taxes for new development in an effort to address the state’s housing crisis.

JUNEAU — The Alaska Senate advanced legislation Tuesday that would allow municipal governments to levy taxes on “blighted” buildings and fully exempt property taxes for new development in an effort to address the state’s housing crisis.

Both measures would be optional for local governments and would only apply to a small number of municipalities across Alaska that levy property taxes. Property taxes can currently be exempted by local governments for new construction up to 2.65 mills, which represents the minimum amount set

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