The proposed ballot measure to establish a senior and disabled veteran property tax exemption of $300,000 continues to maintain a class of property tax freeloaders. The remainder of the residents of the Kenai Peninsula Borough must pay for this excessive exemption.
The state of Alaska mandates a property tax exemption for the elderly and disabled veterans of $150,000, which is generous and adequate. The KPB is the only place in the state that allows an excessive exemption.
Why should KPB residents be penalized by making up these lost revenues? A $300,000 exemption cap will only create revenue of $284,000, while the $150,000 cap will create revenue of $1,289,000. Every resident of the borough should demand that the property tax exemption be capped at $150,000.
Assembly members Deb Germano and Gary Superman have been rabidly adamant about keeping an unlimited tax exemption for some residents and were able to pass an ordinance that is little more than eyewash garbage. It might be wise to keep the assembly members in favor of a tax exemption in excess of the mandated state exemption in mind when the next election comes around. They are costing us all a lot of money.
Incidentally, I am over 80 and a combat veteran of Korea and World War II.
Roy E. Hoyt Jr.
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