PROPERTY TAX ASSESSMENT INCREASES

Plain English Breakdown

The official source material does not provide details about what happens if an assessor makes a mistake in the previous year's assessment, nor how properties with significant yearly improvements will be affected.

Property Tax Assessment Increases

This law restricts how much property tax assessments can increase each year.

What This Bill Does

• Limits the yearly increase in property tax assessments to five percent unless there is an improvement or new information about the property.

Who It Names or Affects

• Property owners
• Local government assessors

Terms To Know

Assessor

A person who determines the value of properties for tax purposes.

Real property

Land and buildings or structures permanently attached to land.

Limits and Unknowns

• The bill does not specify what happens if an assessor makes a mistake in the previous year's assessment.
• It is unclear how this law will affect properties that have significant improvements each year.

Official Summary Text

PROPERTY TAX ASSESSMENT INCREASES
An Act relating to increases in property assessments.

Current Bill Text

HB0254a -1- HB 254
New Text Underlined [DELETED TEXT BRACKETED]

34-LS0958\A

HOUSE BILL NO. 254

IN THE LEGISLATURE OF THE STATE OF ALASKA

THIRTY-FOURTH LEGISLATURE - SECOND SESSION

BY REPRESENTATIVES VANCE, Coulombe

Introduced: 1/20/26
Referred: Community and Regional Affairs, Labor and Commerce

A BILL

FOR AN ACT ENTITLED

"An Act relating to increases in property assessments." 1
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 2
* Section 1. AS 29.45.110 is amended by adding a new subsection to read: 3
(f) The assessor may not increase the assessed value of real property by more 4
than five percent over the previous year's assessed value unless the increase is based 5
on an improvement to the real property or information about the real property that the 6
assessor did not have at the time of the previous assessment. 7