Ketchikan, Alaska Property Taxes
The median property tax rate in Ketchikan, AK is 0.79%, which is notably lower than both the national median of 0.99% and the Alaska state median of 1.37%. With a median home value of $263,900 in Ketchikan, the typical annual property tax bill amounts to $2,276, which is below the national median of $2,690. Property taxes in Ketchikan are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as the primary residence exemption. Understanding Ketchikan'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 Ketchikan 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
Ketchikan, Alaska 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 Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ketchikan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ketchikan 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 Ketchikan, Alaska
Property taxes in Ketchikan, Alaska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ketchikan is 0.79%, lower than the U.S. national median of 0.99%. Local government entities within Ketchikan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ketchikan 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 Ketchikan's effective property tax rate to the national median. For comparison, the zip code 99901 has both the highest and lowest median property tax rate of 0.79%. Understanding how these rates compare with Ketchikan provides valuable insights into the varying tax landscape across Ketchikan Gateway, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ketchikan Tax Rate
0.79%
Average Ketchikan Gateway County Tax Rate
0.79%
Average Alaska Tax Rate
1.37%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ketchikan, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99901 | 0.44% | 0.60% | 0.79% | 1.18% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Ketchikan, Alaska
In Ketchikan, 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 Ketchikan Gateway Borough 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 Ketchikan, 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 Ketchikan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Ketchikan is $2,276, observed in the 99901 zip code.
Average Ketchikan Assessed Value
$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 Assessment Values Across Ketchikan, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99901 | $46,500 | $159,450 | $263,900 | $355,300 | $462,900 |
Source: Ownwell
Property Tax Bills Across Ketchikan, Alaska
In Ketchikan, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the home's market value. For instance, with a median home price of $263,900, the tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $1,016, while those in the 75th percentile might face a bill of approximately $3,259. The highest tax bills, seen in the 90th percentile, can reach up to $4,223. Several factors influence the final tax bill, including the property's location, size, and improvements. In Ketchikan, the median tax bill stands at $2,276, which is notably higher than the national median property tax rate of 0.99%. This discrepancy highlights the importance of understanding local tax rates and how they impact overall homeownership costs. Homeowners should be aware of these factors to better manage their financial planning and obligations.
Average Ketchikan Tax Bill
$2,276
Average Ketchikan Gateway County Tax Bill
$2,276
Average Alaska Tax Bill
$3,874
Average United States Tax Bill
$2,690
Property Tax Bills Across Ketchikan, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99901 | $415 | $1,016 | $2,276 | $3,259 | $4,223 |
Source: Ownwell