Nuiqsut, Alaska Property Taxes
The median property tax rate in Nuiqsut, AK is 0.92%, slightly below the national median of 0.99% and significantly lower than the Alaska state median of 1.37%. With a median home value in Nuiqsut of $109,150, the typical annual property tax bill is around $1,036, which is well below the national median of $2,690. Property taxes in Nuiqsut are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Nuiqsut'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 Nuiqsut or another part of North Slope County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nuiqsut, Alaska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$1,004
Ownwell’s NUIQSUT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in NUIQSUT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in NUIQSUT 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 Nuiqsut, Alaska
Property taxes in Nuiqsut, Alaska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nuiqsut is 0.92%, slightly lower than the U.S. national median of 0.99%. Local government entities within Nuiqsut set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nuiqsut 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 Nuiqsut's effective property tax rate to other regions in North Slope County and the national median. For comparison, the 99789 zip code has both the highest and lowest median property tax rate of 0.92%. Understanding how these cities compare with Nuiqsut 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 Nuiqsut Tax Rate
0.92%
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 Nuiqsut, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99789 | 0.55% | 0.64% | 0.92% | 1.80% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Nuiqsut, Alaska
In Nuiqsut, 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 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 Nuiqsut, 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 Nuiqsut is $109,150, with the 25th percentile tax bill at $738 and the 75th percentile tax bill at $2007. The highest and lowest median tax bills in the area are both $1036, found in the 99789 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 Nuiqsut helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Nuiqsut Assessed Value
$109,150
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 Nuiqsut, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99789 | $73,570 | $93,275 | $109,150 | $124,975 | $143,240 |
Source: Ownwell
Property Tax Bills Across Nuiqsut, Alaska
In NUIQSUT, property tax bills are calculated based on the assessed value of a home, which is determined by the North Slope County assessor's office. The assessed value is a percentage of the home's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $109,150, homeowners can expect a tax bill that varies significantly across different percentiles. At the 25th percentile, the tax bill is approximately $738, while at the 75th percentile, it rises to around $2007. The top 10% of tax bills can reach up to $2247. This range indicates that while some homeowners benefit from relatively low property taxes, others may face higher bills depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, NUIQSUT's tax rates offer a diverse landscape, affecting homeowners differently based on their property values and specific circumstances.
Average Nuiqsut Tax Bill
$1,036
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 Nuiqsut, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99789 | $592 | $738 | $1,036 | $2,007 | $2,247 |
Source: Ownwell