Proposition 11:

A move backed by the Berkowitz administration and intended to offer homeowners relief from Anchorage’s property-based tax burden, Prop 11 would increase the municipal tax exemption from the first 10 percent of a property’s value up to $20,000, bringing it to the first 20 percent up to $50,000. An overview from the city shows that the exemption would require the local mill rate to rise from 15.66 to 16.25, with the strongest reduction in tax rates – 4.4 to 7.8 percent – falling upon homes costing $400,000 to lesser brackets in the $100,000 range.