King Salmon, Alaska Property Taxes
The median property tax rate in King Salmon, AK is 1.11%, slightly higher than the national median of 0.99% but lower than the Alaska state median of 1.37%. With the median home value in King Salmon at $206,700, the typical annual property tax bill amounts to $2,291, which is below the national median of $2,690. Property taxes in King Salmon are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as the primary residence exemption. Understanding King Salmon'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 King Salmon 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
King Salmon, Alaska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,294
Ownwell’s King Salmon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in King Salmon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in King Salmon 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 King Salmon, Alaska
Property taxes in King Salmon, Alaska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in King Salmon is 1.11%, significantly higher than the U.S. national median of 0.99%. Local government entities within King Salmon set these rates annually, and they can vary significantly across different neighborhoods. Each year, King Salmon 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 King Salmon's effective property tax rate to other counties in Alaska and the national median. For comparison, the zip code 99613 has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these areas compare with King Salmon provides valuable insights into the varying tax landscape across Bristol Bay, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average King Salmon Tax Rate
1.11%
Average Bristol Bay County Tax Rate
1.10%
Average Alaska Tax Rate
1.37%
Average United States Tax Rate
0.99%
Property Tax Rates Across King Salmon, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99613 | 1.10% | 1.11% | 1.11% | 1.11% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across King Salmon, Alaska
In King Salmon, 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 Bristol Bay 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 King Salmon, 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. The median home price in King Salmon is $206,700, with tax bills ranging from $2,039 at the 25th percentile to $2,693 at the 90th percentile. The highest and lowest median tax bills are both $2,291, found in the 99613 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average King Salmon Assessed Value
$206,700
Average Bristol Bay County Assessed Value
$163,100
Average Alaska Assessed Value
$289,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across King Salmon, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99613 | $169,580 | $183,500 | $206,700 | $229,900 | $243,820 |
Source: Ownwell
Property Tax Bills Across King Salmon, Alaska
In King Salmon, property tax bills are determined based on the assessed value of the property. The assessed value is typically a percentage of the market value, reflecting what the property might sell for under current market conditions. This value is then multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition, along with comparable sales in the area. For homeowners in King Salmon, the median home price is $206,700. The tax bills can vary significantly, with the 25th percentile at $2,039 and the 75th percentile at $2,542. The highest median tax bill recorded in the area is $2,291. Compared to the national median property tax rate of 0.99%, King Salmon's tax rates may seem higher, reflecting local funding needs for services like schools and infrastructure. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan accordingly.
Average King Salmon Tax Bill
$2,291
Average Bristol Bay County Tax Bill
$1,573
Average Alaska Tax Bill
$3,874
Average United States Tax Bill
$2,690
Property Tax Bills Across King Salmon, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99613 | $1,889 | $2,039 | $2,291 | $2,542 | $2,693 |
Source: Ownwell