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By Larry Persily
Wrangell Sentinel 

Senior tax exemption covers 25% of Wrangell's residential property

 


As Wrangell’s population continues to age, an increasing number of homes in town qualify for the state-mandated exemption from property taxes.

About 25% of the assessed value of residential property in Wrangell is senior-owned and exempt from taxes, according to borough data.

The tax-exempt status will cost the borough $427,000 in lost revenue this year. The borough expects to collect almost $1.8 million in property taxes this year on taxable residential and commercial property.

The total assessed value of all privately owned residential property in the community this year is just over $1...



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