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Alaska Administrative Code (Last Updated: January 12, 2017) |
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Title 3. Commerce, Community, and Economic Development. |
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Part 3.1. Banking, Securities, Small Loans and Corporations. |
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Chapter 3.136. Senior Citizen Property Tax Equivalency Payment. |
Section 3.136.030. Eligibility.
Latest version.
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(a) To be eligible, property for which rent is paid must be subject to a local property tax. Payment in place of property tax is not considered local property tax for purposes of this chapter. (b) To be eligible, a rental payment must be paid to the landlord and must exclude security deposits, rent paid for the year before the program year, and advance payments for the year after the program year. Rental charges for food, medical care and supplies, personal services, or other items not directly related to providing shelter and utilities are not eligible. Sales tax paid to the landlord for the rental may be included in the eligible rent paid. (c) An applicant may not receive a property tax exemption under AS 29.53.020(e) - (i) and renter equivalency payment under AS 29.73.060 for the same program year unless a portion of a permanent place of abode is owned and a portion of the same permanent place of abode is rented. (d) An applicant must be age 65 or older before January 1 of the program year to be eligible. (e) Application for an equivalency payment must be mailed to the department by January 15 of the year following the program year.