In accordance with AS 29.45.030, the Kodiak Island Borough offers exemptions from real property tax to qualified senior citizens and disabled veterans.
The senior citizen (age 65 and older) and disabled (50% or more) veteran property tax exemption of up to the first $150,000 of assessed value applies only to the primary residence of the qualified applicant. For example, the applicant applies and is approved for 100% of the exemption. The assessed value of the applicant's primary residence is $200,000. After deducting the exemption amount of $150,000, property tax will be calculated based on the remaining $50,000 in assessed value.
Any person seeking a property tax exemption must file an application.
Applications for property tax exemptions must be received by January 15th of each year. Per Kodiak Island Borough Code3.35.030good cause must be shown for late filed applications to be accepted; and waivers are not applied to prior years.
New applicants should bring two forms of picture identification to the Assessor's office to apply for either exemption.