At an Assembly meeting Tuesday, the Anchorage Assembly voted to double property tax exemptions within the municipality-- effectively lowering the tax obligation for homeowners.

The proposition increases the residential real property tax exemption to allow 20 percent of a property's real value be exempt from taxation, up to $50,000. Current policy allows for a 10 percent exemption, up to $20,000.

The move comes as part of a tradeoff after the Assembly approved a motor fuels tax earlier in the year.

The measure will appear before voters on the ballot in the 2018 general election, on April 3.

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