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SB 259 Alaska Senate · 34th Legislature (2025-2026)

An Act relating to an optional municipal limit to increases of the full and true value of property owned and occupied as a permanent place of abode by a resident.

SB 259 would allow Alaska municipalities to adopt ordinances limiting annual increases to the assessed value of residential properties owned and occupied as a primary home by the owner. Municipalities could set a cap of at least 5% per year, but only for properties occupied by the owner for 185+ days annually. The limit would not apply if the property is improved or sold, allowing the assessment to reflect market value in those cases. This bill directly affects homeowners in communities that choose to implement such a tax assessment cap.
Issues: ✓ Budget & TaxesSupports Budget & TaxesCaps annual property tax increases for primary residences, providing tax relief to homeowners and limiting assessment-driven tax hikes.95% confidence ✓ HousingSupports HousingCaps annual property tax increases for owner-occupied homes (5% max), reducing housing cost burden for residents and preventing displacement from sudden tax hikes.85% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2026
Committee Review
Floor Vote
Governor
Introduced Feb 23, 2026 Last action May 4, 2026
Maddy AI version diff · 2 comparisons

What changed between versions

CSSB 259(CRA) → CSSB 259(L&C) · 4 edits
MODERATE
The bill was re-referred from the Labor & Commerce Committee to the Finance Committee and renamed to reflect its new focus on property valuation rather than just housing. The core policy change removes the requirement that the property must be occupied as housing, expanding the ordinance's applicability to all real property. Additionally, the specific requirement for a 10-year revaluation cycle was removed, giving municipalities more flexibility in how they adjust assessed values.
Scope change
The bill's scope expanded from applying only to properties occupied as housing to applying to all real property.
ELIGIBILITY

Removed the restriction limiting the ordinance to properties occupied as housing, allowing it to apply to all real property.

REQUIREMENT

Deleted the mandatory requirement that assessors must revalue property every 10 years to market value.

TIMELINE

Changed the bill's committee referral date from April 13, 2026, to April 28, 2026.

SCOPE

Updated the bill title and committee reference from 'Community and Regional Affairs' to 'Labor and Commerce'.

Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
28
Key actions
2
Committee
4
Apr 28, 2026
Committee
(S) REFERRED TO FINANCE
upper
Apr 28, 2026
Committee
(S) FIN REFERRAL ADDED AFTER L&C
upper
Apr 27, 2026
Upper · Passed
(S) Moved CSSB 259(L&C) Out of Committee
upper
Apr 9, 2026
Upper · Passed
(S) Moved CSSB 259(CRA) Out of Committee
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Jesse Bjorkman
Jesse Bjorkman
RRepublican
AK
D