Property Tax Exemptions - The Civic Federation

and personal property of an authority and its assets, income, and receipts are exempt fromall taxes and special assessments of the state or a political subdivision of the state.AK ST s 29.45.030(a) The following property is exempt from general taxation:(1) Municipal property, including property held by a public corporation of amunicipality, or state property, or land that is in the trust established by theAlaska Mental Health Enabling Act of 1956, P.L. 84-830, 70 Stat. 709, (see fulltext for exceptions.)(3) Property used exclusively for nonprofit religious, charitable, cemetery,hospital, or educational purposes;(b) In (a) of this section, "property used exclusively for religious purposes" includes thefollowing property owned by a religious organization:(1) The residence of a bishop, pastor, priest, rabbi, minister, or religious order of arecognized religious organization;(2) A structure, its furniture, and its fixtures used solely for public worship,charitable purposes, religious administrative offices, religious education, or anonprofit hospital;(3) Lots required by local ordinance for parking near a structure defined in (2) ofthis subsection.(c) Property described in (a)(3) or (4) of this section from which income is derived isexempt only if that income is solely from use of the property by nonprofit religious,charitable, hospital, or educational groups. If used by nonprofit educational groups, theproperty is exempt only if used exclusively for classroom space.AK ST s 29.45.050(a) A municipality may exclude or exempt or partially exempt residential property fromtaxation by ordinance ratified by the voters at an election. An exclusion or exemptionauthorized by this section may not exceed the assessed value of $10,000 for any oneresidence.(b) A municipality may by ordinance(1) Classify and exempt from taxation(A) The property of an organization not organized for business or profitmakingpurposes and used exclusively for community purposes if theincome derived from rental of that property does not exceed the actual costto the owner of the use by the renter;(B) Historic sites, buildings, and monuments;(C) Land of a nonprofit organization used for agricultural purposes ifrights to subdivide the land are conveyed to the state and the conveyanceincludes a covenant restricting use of the land to agricultural purposesonly; rights conveyed to the state under this subparagraph may beconveyed by the state only in accordance with AS 38.05.069(c);(D) All or any portion of private ownership interests in property that,based upon a written agreement with the University of Alaska, is usedexclusively for student housing for the University of Alaska; property maybe exempted from taxation under this subparagraph for no longer than 3016