Ketchikan Gateway County Property Taxes
The median property tax rate in Ketchikan Gateway is 0.79%, which is significantly lower than both the national median of 0.99% and the Alaska state median of 1.37%. With the median home value in Ketchikan Gateway, the typical annual property tax bill reaches $2,276, which is below the national median of $2,690. Property taxes in Ketchikan Gateway are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Ketchikan Gateway's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Ketchikan or another part of Ketchikan Gateway, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ketchikan Gateway County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$2,085
Ownwell’s Ketchikan Gateway Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Ketchikan Gateway with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Ketchikan Gateway to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Ketchikan Gateway County, Alaska
Property taxes in Ketchikan Gateway play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Ketchikan Gateway is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Ketchikan Gateway set these rates annually, and they can vary significantly between different areas within the county. Each year, Ketchikan Gateway estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Ketchikan Gateway's effective property tax rate with the national median. For comparison, the city of Ketchikan has one of the higher property tax rates in Alaska at 0.79%, while the city of Ketchikan also boasts one of the lowest at 0.79%. Analyzing how Ketchikan Gateway's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Ketchikan Gateway County Tax Rate
0.79%
Average Alaska Tax Rate
1.37%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Ketchikan Gateway County, Alaska
In Ketchikan Gateway, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Ketchikan Gateway Appraisal District. The assessed value, however, 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. Assessment notices in Ketchikan Gateway are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. The highest and lowest median tax bill in Ketchikan is $2,276, which is above the national median property tax rate of 0.99%. Being aware of these valuation processes in Ketchikan Gateway will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Ketchikan Gateway County, Alaska
Source: Ownwell
$263,900
$263,900
$263,900
Average Ketchikan Gateway County Assessed Value
$263,900
Average Alaska Assessed Value
$289,400
Average United States Assessed Value
$244,900
Property Tax Bills Across Ketchikan Gateway County, Alaska
In Ketchikan Gateway, AK, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is an estimate of the property's market value as determined by local government assessors. This value is then multiplied by the local tax rate to calculate the annual tax bill. The median home price in Ketchikan Gateway is $263,900, which provides a baseline for understanding property tax obligations in the area. Homeowners in Ketchikan Gateway can expect a wide range of tax bills. For instance, the 25th percentile tax bill is $1,016, while the 75th percentile reaches $3,259, and the 90th percentile is $4,223. These figures indicate significant variability in tax burdens, influenced by factors such as property value, exemptions, and local tax policies. The highest and lowest median tax bills in Ketchikan Gateway are both $2,276, reflecting uniformity within the city. Compared to the national median property tax rate of 0.99%, Ketchikan Gateway's tax rates can significantly impact homeowners' financial planning and budgeting.
Average Ketchikan Gateway County Tax Bill
$2,276
Average Alaska Tax Bill
$3,874
Average United States Tax Bill
$2,690