Anchorage, Alaska Property Taxes
The median property tax rate in Anchorage, AK is 1.70%, considerably higher than both the national median of 0.99% and the Alaska state median of 1.37%. With the median home value in Anchorage, the typical annual property tax bill reaches $5,627, exceeding the national median of $2,690. Property taxes in Anchorage are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Anchorage's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Anchorage or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Anchorage, Alaska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$5,666
Ownwell’s Anchorage Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Anchorage with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Anchorage to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Anchorage, Alaska
Property taxes in Anchorage, Alaska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Anchorage is 1.70%, significantly higher than the U.S. national median of 0.99%. Local government entities within Anchorage set these rates annually, and they can vary significantly across different neighborhoods. Each year, Anchorage estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Anchorage's effective property tax rate to other areas and the national median. For comparison, the 99501 zip code has the highest median property tax rate of 1.70%, while the 99516 zip code has the lowest median tax rate of 1.60%. Understanding how these areas compare with Anchorage provides valuable insights into the varying tax landscape across Anchorage, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Anchorage Tax Rate
1.70%
Average Anchorage County Tax Rate
1.70%
Average Alaska Tax Rate
1.37%
Average United States Tax Rate
0.99%
Property Tax Rates Across Anchorage, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99501 | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% |
| 99502 | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% |
| 99503 | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% |
| 99504 | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% |
| 99507 | 1.56% | 1.70% | 1.70% | 1.70% | 1.70% |
| 99508 | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% |
| 99515 | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% |
| 99516 | 1.42% | 1.42% | 1.59% | 1.70% | 1.70% |
| 99517 | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% |
| 99518 | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Anchorage, Alaska
In Anchorage, Alaska, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Anchorage County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Anchorage, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Anchorage helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Anchorage, the highest median tax bill is $8,010 in the 99516 zip code, while the lowest is $4,571 in the 99518 zip code.
Average Anchorage Assessed Value
$333,300
Average Anchorage County Assessed Value
$340,300
Average Alaska Assessed Value
$289,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Anchorage, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99501 | $126,500 | $183,450 | $302,500 | $466,350 | $610,500 |
| 99502 | $193,700 | $278,200 | $348,500 | $429,300 | $556,600 |
| 99503 | $137,600 | $201,450 | $287,000 | $345,150 | $424,280 |
| 99504 | $184,300 | $232,200 | $300,700 | $350,000 | $405,880 |
| 99507 | $178,400 | $242,600 | $335,900 | $424,400 | $580,300 |
| 99508 | $101,440 | $197,400 | $283,300 | $360,000 | $439,580 |
| 99515 | $209,900 | $284,900 | $370,700 | $442,300 | $563,900 |
| 99516 | $365,750 | $423,900 | $504,200 | $626,175 | $780,800 |
| 99517 | $182,400 | $256,000 | $327,200 | $422,925 | $559,090 |
| 99518 | $149,200 | $200,600 | $269,600 | $330,925 | $387,680 |
Source: Ownwell
Property Tax Bills Across Anchorage, Alaska
In Anchorage, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in Anchorage face varying property tax bills depending on the value of their property. For instance, the median home price in Anchorage is $333,300, and the tax bills can range significantly. At the 25th percentile, homeowners might pay around $4,186, while those at the 75th percentile could see tax bills as high as $7,161. For properties in the 90th percentile, tax bills can reach up to $9,266. The highest median tax bill in Anchorage is found in the 99516 zip code, amounting to $8,010, whereas the lowest is in the 99518 zip code, at $4,571. This variability in tax bills affects homeowners differently, influencing their overall housing costs and financial planning.
Average Anchorage Tax Bill
$5,627
Average Anchorage County Tax Bill
$5,656
Average Alaska Tax Bill
$3,874
Average United States Tax Bill
$2,690
Property Tax Bills Across Anchorage, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99501 | $2,079 | $2,982 | $5,088 | $7,798 | $10,273 |
| 99502 | $3,180 | $4,704 | $5,920 | $7,285 | $9,440 |
| 99503 | $2,314 | $3,256 | $4,845 | $5,868 | $7,176 |
| 99504 | $3,025 | $3,891 | $5,095 | $5,946 | $6,897 |
| 99507 | $2,907 | $4,074 | $5,662 | $7,089 | $9,275 |
| 99508 | $1,655 | $3,183 | $4,775 | $6,110 | $7,464 |
| 99515 | $3,541 | $4,763 | $6,294 | $7,514 | $9,522 |
| 99516 | $5,610 | $6,775 | $8,010 | $9,768 | $12,208 |
| 99517 | $2,919 | $4,304 | $5,543 | $7,180 | $9,498 |
| 99518 | $2,531 | $3,229 | $4,571 | $5,620 | $6,596 |
Source: Ownwell