David Caplan of CCH notes that an Alaska initiative to increase residential property tax exemptions will appear on the August 28, 2012 primary election ballot. Initiative 09RPEA (Ballot Measure No. 1) would allow local governments, with voter approval at a local election, to subtract up to $50,000 from a home's assessed value before calculating property taxes. State law currently limits the exemption to $20,000. The initiative also provides that the exemption amount may be adjusted for inflation.
Alaska Lt. Gov. Mead Treadwell determined that the initiative was properly filed and notified the Legislature in a letter on December 20, 2010. The ballot measures pamphlet can be found at http://www.elections.alaska.gov/doc/bmp/2012/2012_prim_bmp_english.pdf.