PROPERTY TAX ASSESSMENT INCREASES

Plain English Breakdown

The effective date is missing from the provided metadata and text, so uncertainty remains about when this law begins.

Limits on Property Tax Assessment Increases

This law limits how much a local assessor can raise the value of real property each year.

What This Bill Does

• Sets a limit so assessors cannot increase property values by more than five percent from the previous year's assessed value.
• Allows an exception if the increase is based on improvements to the real property.

Who It Names or Affects

• Property assessors in Alaska
• Owners of real property

Terms To Know

Assessed value

The dollar amount assigned to a piece of land or building for tax purposes.

Real property

Land and anything built on it, such as houses or buildings.

Limits and Unknowns

• The official text does not state when this law officially takes effect.
• The bill does not explain how assessors must prove they had new information about a property.

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