Chugiak, Alaska Property Taxes
The median property tax rate in Chugiak, AK is 1.50%, considerably higher than both the national median of 0.99% and the Alaska state median of 1.37%. With the median home value in Chugiak, the typical annual property tax bill reaches $5,573, exceeding the national median of $2,690. Property taxes in Chugiak 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 Chugiak'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 Chugiak 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
Chugiak, Alaska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$5,593
$5,190
Ownwell’s Chugiak Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chugiak with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chugiak 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 Chugiak, Alaska
Property taxes in Chugiak, Alaska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chugiak is 1.50%, significantly higher than the U.S. national median of 0.99%. Local government entities within Chugiak set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chugiak 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 Chugiak's effective property tax rate to other areas in Anchorage and the national median. For comparison, the zip code 99567 has both the highest and lowest median property tax rate of 1.50%. Understanding how these areas compare with Chugiak provides valuable insights into the varying tax landscape across Anchorage, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chugiak Tax Rate
1.50%
Average Anchorage County Tax Rate
1.70%
Average Alaska Tax Rate
1.37%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chugiak, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99567 | 1.50% | 1.50% | 1.50% | 1.50% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Chugiak, Alaska
In Chugiak, 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 Anchorage 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 Chugiak, 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 Chugiak helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Chugiak are both $5573, found in the 99567 zip code.
Average Chugiak Assessed Value
$372,850
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 Chugiak, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99567 | $191,930 | $297,175 | $372,850 | $454,725 | $550,950 |
Source: Ownwell
Property Tax Bills Across Chugiak, Alaska
In Chugiak, property tax bills are calculated based on the assessed value of a home, which is determined by the Anchorage County Assessor's Office. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $372,850, homeowners can expect their tax bill to vary. At the 25th percentile, the tax bill is around $4,385, while at the 75th percentile, it rises to approximately $6,795. The 90th percentile sees tax bills reaching up to $8,258. Factors influencing the tax bill include property size, location, and any improvements made to the property. Compared to the national median property tax rate of 0.99%, Chugiak homeowners experience a different range of tax obligations. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly. In Anchorage County, the median tax bill remains consistent at $5,573, highlighting the area's specific tax dynamics.
Average Chugiak Tax Bill
$5,573
Average Anchorage County Tax Bill
$5,656
Average Alaska Tax Bill
$3,874
Average United States Tax Bill
$2,690
Property Tax Bills Across Chugiak, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99567 | $2,473 | $4,385 | $5,573 | $6,795 | $8,258 |
Source: Ownwell