—Posted by Matt Buxton, staff writer
The locally sponsored Measure 1, a change that allows municipalities to raise their property tax exemption from $20,000 to $50,000, is failing this morning.
The measure had narrowly been ahead by a few thousand votes throughout the evening, but as of this morning it’s behind by 1,148 votes with 97.7 percent of precincts reporting.
If passed, the measure would have allowed municipalities to raise the total value tax payers could take off their owner-occupied homes when calculating property taxes. Any changes would have required voter approval.
The measure faced opposition in Anchorage and Kenai where some leaders expressed concern that the lowered revenue from individual homes would have to be offset by increased property taxes on industrial, business and rental properties.
Rural communities and districts without large taxing municipalities also showed little support for the measure according to unofficial results from the Alaska Division of Elections.
The measure had been backed by Assemblywoman Nadine Winters and former Fairbanks North Star Borough Mayor Jim Whitaker.
Contact staff writer Matt Buxton at 459-7544.