Old Harbor, Alaska Property Taxes
The median property tax rate in Old Harbor, AK is 1.03%, slightly higher than the national median of 0.99% but lower than the Alaska state median of 1.37%. With a median home value of $53,500 in Old Harbor, the typical annual property tax bill amounts to $581, which is significantly below the national median of $2,690. Property taxes in Old Harbor are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Old Harbor'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 Old Harbor or another part of Kodiak Island, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Old Harbor, Alaska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$551
Ownwell’s Old Harbor Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Old Harbor with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Old Harbor to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in examining trends on a neighborhood level, more localized information is available further down the page. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Old Harbor, Alaska
Property taxes in Old Harbor, Alaska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Old Harbor is 1.03%, significantly higher than the U.S. national median of 0.99%. Local government entities within Old Harbor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Old Harbor 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 Old Harbor's effective property tax rate to other counties in Alaska and the national median. For comparison, the zip code 99643 has the highest median property tax rate of 1.03%, while the same zip code also has the lowest median tax rate of 1.03%. Understanding how these cities compare with Old Harbor provides valuable insights into the varying tax landscape across Kodiak Island, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Old Harbor Tax Rate
1.03%
Average Kodiak Island County Tax Rate
1.22%
Average Alaska Tax Rate
1.37%
Average United States Tax Rate
0.99%
Property Tax Rates Across Old Harbor, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99643 | 1.02% | 1.02% | 1.03% | 1.03% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Old Harbor, Alaska
In Old Harbor, 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 for tax purposes by the Kodiak Island County Appraisal District. 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 Old Harbor, 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 Old Harbor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $581 in the 99643 zip code.
Average Old Harbor Assessed Value
$53,500
Average Kodiak Island County Assessed Value
$309,800
Average Alaska Assessed Value
$289,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Old Harbor, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99643 | $36,720 | $47,250 | $53,500 | $59,925 | $84,680 |
Source: Ownwell
Property Tax Bills Across Old Harbor, Alaska
In Old Harbor, Kodiak Island, AK, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Old Harbor is $53,500, which is significantly lower than the national median. Property taxes are determined by multiplying the assessed value by the local tax rate. For example, the tax bill at the 25th percentile is $539, while at the 75th percentile, it’s $688. The 90th percentile tax bill can go up to $897. These figures illustrate that even within a small community, property tax bills can vary considerably. Factors influencing these variations include property location, improvements, and market conditions. Homeowners in Old Harbor benefit from relatively low property tax bills compared to many other regions, which can make homeownership more affordable. However, it's essential for homeowners to understand their assessed values and any applicable exemptions to manage their tax liabilities effectively. The highest and lowest median tax bills in the area are both $581, indicating some consistency in property tax assessments.
Average Old Harbor Tax Bill
$581
Average Kodiak Island County Tax Bill
$3,451
Average Alaska Tax Bill
$3,874
Average United States Tax Bill
$2,690
Property Tax Bills Across Old Harbor, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99643 | $491 | $539 | $581 | $688 | $897 |
Source: Ownwell