Habitat Protection Tax Credit & Exemptions
Tax Credit
The KPB Habitat Protection Tax Credit Program provides landowners a tax credit as partial reimbursement for habitat protection and restoration projects within 150 feet of the anadromous water bodies protected under the KPB Habitat Protection District.
What kinds of projects qualify?
- Elevated, light-penetrating structures (walkways, bridges, stairs)
- Fish cleaning stations
- Cabled spruce tree revetments
- Floating docks
- Hydrocarbon spill prevention and reduction measures
- Bank restoration, bank protection, or habitat restoration
- Removal of structures within the 50-foot Habitat Protection District
How much is the credit?
For the first three consecutive tax years following completion of the project, the borough will provide a credit of up to 50% of the land tax assessment or the cost incurred in the project, whichever is less. The tax credit is not transferable should the property be sold. This is a KPB credit and it does not apply to any city tax portion.
How and when do I apply?
This is a two-part process:
- Prior to beginning construction, you will apply for your permits with a Multi-Agency Application. On this application you will also submit your estimated costs for the project to pre-qualify your tax credit.
- Upon completion of a project, you must then submit the Habitat Tax Credit & Exemption form on or before January 15, as well as copies of receipts from your project costs.
Tax Exemption
The KPB Habitat Protection Tax Exemption Program provides landowners a tax exemption for all or part of the increased assessed value of property when the increase is due to habitat protection and restoration projects within 150 feet of anadromous water bodies protected under the KPB Habitat Protection Ordinance.
What kinds of projects qualify?
The following projects qualify for the tax exemption:
- Elevated, light-penetrating structures (walkways, bridges, stairs)
- Fish cleaning stations
- Cabled spruce tree revetments
- Floating docks
- Hydrocarbon spill prevention and reduction measures
- Bank restoration, bank protection, or habitat restoration
How long is my project exempt from the increased tax assessment?
Exemptions continue for up to four years from the date the improvement is completed, or from the date of the approval for the exemption from the local assessor, whichever is later. The tax exemption is not transferable should the property be sold. This is a KPB exemption and it does not apply to any city tax portion.
How and when do I apply?
Complete and submit the Habitat Tax Credit & Exemption application on or before January 15 of the assessment year for which the exemption is sought. The exemption will automatically continue for four years without re-application.
Applications should be submitted to the River Center.
