IIS Express – Disabling anonymous authentication

StackOverflow: IIS Express is automatically disabling anonymous authentication for my project, why?

To disable anonymous authentication, I found updating the following element in the project file (i.e. csproj, vbproj) allowed me to debug my application with anonymous access.

<IISExpressAnonymousAuthentication>disabled</IISExpressAnonymousAuthentication>

Changing the IISExpressAnonymousAuthentication setting to enabled fixes the issue (it can also be done within Visual Studio, select project, F4, set Anonymous Authentication in the properties grid to Enabled).