Sharing home impacts tax exemption

The cover story on April’s AARP magazine is: “Saving Money by Living Together.” Well, I’m the patriarch of a combined 3 generation family here in Nikiski. My children and grandchildren live in my house. The State of Alaska has touted its $300,000 property tax exemption for folks over 65. I qualify, but for the past couple years my exemption has been reduced by thousands of dollars because my children live with me. Don’t misunderstand. I’m grateful for the exemption, but I wonder how many other families in the Borough are combined to save money and if other families have had their exemption reduced because of a combined family.

Instead of penalizing elderly parents, the borough ought to urge adult children to remain in Alaska. What gives? I’ll await a reply and an explanation.

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Thu, 04/27/2017 - 22:01

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