Atqasuk, Alaska Property Taxes
The median property tax rate in Atqasuk, AK is 1.80%, considerably higher than both the national median of 0.99% and the Alaska state median of 1.37%. With the median home value in Atqasuk, the typical annual property tax bill reaches $1,520, which is lower than the national median of $2,690. Property taxes in Atqasuk 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 Atqasuk'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 Atqasuk 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
Atqasuk, Alaska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$2,097
Ownwell’s ATQASUK Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ATQASUK with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ATQASUK 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 Atqasuk, Alaska
Property taxes in Atqasuk, Alaska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Atqasuk is 1.80%, significantly higher than the U.S. national median of 0.99%. Local government entities within Atqasuk set these rates annually, and they can vary significantly across different neighborhoods. Each year, Atqasuk 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 Atqasuk's effective property tax rate to other counties in Alaska and the national median. For comparison, the 99791 zip code has both the highest and lowest median property tax rate of 1.80%. Understanding how these cities compare with Atqasuk provides valuable insights into the varying tax landscape across North Slope County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Atqasuk Tax Rate
1.80%
Average North Slope County Tax Rate
1.80%
Average Alaska Tax Rate
1.37%
Average United States Tax Rate
0.99%
Property Tax Rates Across Atqasuk, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99791 | 0.52% | 0.80% | 1.80% | 1.80% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Atqasuk, Alaska
In Atqasuk, 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 North Slope 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 Atqasuk, 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. For instance, the median home price in Atqasuk is $116,500, with tax bills ranging from $898 at the 25th percentile to $2,460 at the 90th percentile. The highest and lowest median tax bills are both $1,520 in the 99791 zip code. By understanding 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 Atqasuk helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Atqasuk Assessed Value
$116,500
Average North Slope County Assessed Value
$130,000
Average Alaska Assessed Value
$289,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Atqasuk, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99791 | $81,240 | $85,050 | $116,500 | $136,950 | $176,960 |
Source: Ownwell
Property Tax Bills Across Atqasuk, Alaska
Property tax bills in Atqasuk, located in North Slope County, AK, are calculated based on the assessed value of a property. The assessed value is determined by the local tax assessor and reflects the market value of the property. Once the property is assessed, the tax rate is applied to this value to calculate the tax bill. Several factors influence the tax bill, including the property’s location, size, and condition. Homeowners in Atqasuk can expect a median property tax bill, with the 25th percentile at $898 and the 75th percentile at $1984. For those at the 90th percentile, the tax bill can go up to $2460. Comparatively, the property tax rate in Atqasuk is relatively modest given the national median property tax rate of 0.99%. This can be advantageous for homeowners, as it means lower annual expenses related to property taxes, potentially making homeownership more affordable in this region.
Average Atqasuk Tax Bill
$1,520
Average North Slope County Tax Bill
$2,211
Average Alaska Tax Bill
$3,874
Average United States Tax Bill
$2,690
Property Tax Bills Across Atqasuk, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99791 | $310 | $898 | $1,520 | $1,984 | $2,460 |
Source: Ownwell