Anchorage County, Alaska Property Taxes
The median property tax rate in Anchorage is 1.70%, significantly higher than both the national median of 0.99% and Alaska's state median of 1.37%. With the median home value in Anchorage at $340,300, the typical annual property tax bill reaches $5,656, which far exceeds the national median of $2,690. Property taxes in Anchorage are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Anchorage's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide substantial annual savings. Whether you live in Anchorage or another part of the county, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Anchorage County, Alaska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$5,785
$5,368
Ownwell’s Anchorage Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Anchorage with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Anchorage to estimate your property tax bill. This insightful tool 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 Anchorage County, Alaska
Property taxes in Anchorage play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Anchorage is 1.70%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Anchorage set these rates annually, and they can vary significantly between different areas within the county. Each year, Anchorage 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. For comparison, the city of Anchorage has one of the higher property tax rates in Alaska at 1.70%, while the city of Bird Creek boasts one of the lowest at 0.74%. Analyzing how Anchorage's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Anchorage County Tax Rate
1.70%
Average Alaska Tax Rate
1.37%
Average United States Tax Rate
0.99%
Property Tax Rates Across Anchorage County, Alaska
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Anchorage | 1.61% | 1.70% | 1.70% | 1.70% | 1.70% |
| Bird Creek | 0.74% | 0.74% | 0.74% | 0.74% | 0.74% |
| Chugiak | 1.50% | 1.50% | 1.50% | 1.50% | 1.52% |
| Eagle River | 1.49% | 1.52% | 1.65% | 1.66% | 1.67% |
| Girdwood | 1.26% | 1.26% | 1.26% | 1.26% | 1.26% |
| Indian | 0.74% | 0.74% | 0.74% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Anchorage County, Alaska
In Anchorage, 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 Anchorage 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 Anchorage 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. For instance, Eagle River has the highest median tax bill at $5,955, while Bird Creek has the lowest at $3,437. Being aware of these valuation processes in Anchorage will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Anchorage County, Alaska
Source: Ownwell
$269,600
$386,900
$504,200
Average Anchorage County Assessed Value
$340,300
Average Alaska Assessed Value
$289,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Anchorage County, Alaska
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Anchorage | $163,500 | $249,000 | $333,300 | $428,500 | $566,300 |
| Bird Creek | $179,440 | $344,675 | $463,850 | $541,375 | $793,470 |
| Chugiak | $191,930 | $297,175 | $372,850 | $454,725 | $550,950 |
| Eagle River | $258,080 | $313,250 | $369,200 | $470,700 | $584,100 |
| Girdwood | $193,600 | $335,325 | $445,350 | $621,550 | $768,450 |
| Indian | $197,260 | $362,850 | $483,400 | $631,400 | $737,360 |
Source: Ownwell
Property Tax Bills Across Anchorage County, Alaska
In Anchorage, AK, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Anchorage is $340,300. Homeowners are subject to a property tax rate that varies depending on the specific area within the county. For instance, the tax bill for the 25th percentile is $4,264, while the 75th percentile sees a tax bill of $7,183. Those in the 90th percentile face tax bills as high as $9,222. Several factors influence these tax bills, including the assessed property value, local government budgets, and public service funding needs. Higher-valued properties, like those in Eagle River, can see median tax bills of $5,955, whereas lower-valued properties, such as those in Bird Creek, have a median tax bill of $3,437. These variations significantly impact homeowners, influencing their annual financial planning and long-term investment decisions. Understanding these factors can help homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Anchorage County Tax Bill
$5,656
Average Alaska Tax Bill
$3,874
Average United States Tax Bill
$2,690
Property Tax Bills Across Anchorage County, Alaska
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Anchorage | $2,691 | $4,186 | $5,627 | $7,161 | $9,266 |
| Bird Creek | $1,330 | $2,554 | $3,437 | $3,957 | $5,862 |
| Chugiak | $2,473 | $4,385 | $5,573 | $6,795 | $8,258 |
| Eagle River | $4,068 | $5,047 | $5,955 | $7,474 | $9,286 |
| Girdwood | $2,424 | $3,922 | $5,545 | $7,780 | $9,678 |
| Indian | $1,254 | $2,605 | $3,525 | $4,645 | $5,421 |
Source: Ownwell