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 and disabled 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.
Both the senior citizen and disabled veteran property tax exemptions must be applied for annually.
New applicants should bring two forms of picture identification to the Assessor's office to apply for either exemption.