§ 5.12.115. Real property tax—Exemptions—Residential real property.

A.

The first $50,000 of assessed valuation of a single parcel of residential real property owned and occupied by the owner of record as the owner's permanent place of residence in the borough, shall be exempt from the borough tax levy on real property within the Kenai Peninsula Borough.

The assessor may presume that the property has not been occupied as the owner of record's primary residence and permanent place of abode, if the owner of record occupied it for less than 185 days during the previous year. If the current owner of record can provide the assessor with satisfactory evidence that the lack of occupancy was for medical reasons, the exemption may be granted.

B.

No exemption under this section may be granted except upon written application on a form prescribed by the assessor. The owner of record must file the application for this exemption with the assessor no later than January 15th of the assessment year for which the exemption is sought. The owner of record shall not be required to file an updated application for successive years unless there is a change in ownership or occupancy of the residence.

C.

An applicant under this section is ineligible to receive the exemption if the applicant has applied for or received a similar residency-based exemption for the same year for property located in another jurisdiction outside the borough.

(Ord. No. 2016-28 , § 9, 8-23-16; Ord. No. 2014-05 , § 3, 2-25-14; Initiative Ord. No. 2013-02 , § 1, 10-1-13 (election); Ord. No. 2004-23, § 1, 8-3-04; Ord. No. 98-52, § 1, 10-13-98; Ord. No. 78-45, § 1, 1978)