Cost to borough of tax exemption for senior-owned property grows
As Wrangell’s population continues to age, the total value of senior citizen-owned homes exempt from property taxes continues to grow.
About 27% of Wrangell’s population was 65 years or older last year (551 of 2,039 residents), according to Alaska Department of Labor statistics. That’s up from just under 23% in 2020 (482 of 2,127) and 19% in 2015 when the town’s population was much larger at 2,442.
State law requires municipalities to exempt from property taxes the first $150,000 in assessed value on homes owned by senior citizens and disabled veterans. The law also requires the state to reimb...
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