Eagle River, Alaska Property Taxes
The median property tax rate in Eagle River, AK, is 1.65%, considerably higher than both the national median of 0.99% and the Alaska state median of 1.37%. With the median home value in Eagle River at $369,200, the typical annual property tax bill reaches $5,955, significantly exceeding the national median of $2,690. Property taxes in Eagle River 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 Eagle River'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 Eagle River or another part of Anchorage County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eagle River, Alaska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.65%
Estimate Property Tax Bill
$6,092
$5,653
Ownwell’s Eagle River Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eagle River with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eagle River 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 Eagle River, Alaska
Property taxes in Eagle River, Alaska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eagle River is 1.65%, significantly higher than the U.S. national median of 0.99%. Local government entities within Eagle River set these rates annually, and they can vary across different neighborhoods. Each year, Eagle River 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 Eagle River's effective property tax rate to other areas in Anchorage and the national median. For comparison, the zip code 99577 has both the highest and lowest median property tax rate of 1.65%. Understanding how these areas compare with Eagle River 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 Eagle River Tax Rate
1.65%
Average Anchorage County Tax Rate
1.70%
Average Alaska Tax Rate
1.37%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eagle River, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99577 | 1.49% | 1.52% | 1.65% | 1.66% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Eagle River, Alaska
In Eagle River, 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 Eagle River, 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 Eagle River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 99577 has the highest median tax bill of $5,955, which is also the lowest median tax bill in the area.
Average Eagle River Assessed Value
$369,200
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 Eagle River, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99577 | $258,080 | $313,250 | $369,200 | $470,700 | $584,100 |
Source: Ownwell
Property Tax Bills Across Eagle River, Alaska
Property tax bills in Eagle River, located in Anchorage County, AK, are determined based on the assessed value of a property and the local tax rate. The assessed value is an estimate of the property's market value, which is periodically updated by local tax assessors. In Eagle River, the median home price stands at $369,200. Homeowners here face property tax bills that vary significantly, with the 25th percentile at $5,047 and the 75th percentile reaching $7,474. The 90th percentile of tax bills can climb up to $9,286, indicating a considerable range in tax obligations depending on property value and specific assessments. These tax bills are influenced by several factors, including property size, location, and any applicable exemptions or deductions. For homeowners, understanding these elements is crucial, as property taxes represent a significant annual expense. Comparing Eagle River's median tax bill to the national median property tax rate of 0.99% highlights the importance of accurate assessments and proactive management to ensure fair taxation.
Average Eagle River Tax Bill
$5,955
Average Anchorage County Tax Bill
$5,656
Average Alaska Tax Bill
$3,874
Average United States Tax Bill
$2,690
Property Tax Bills Across Eagle River, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99577 | $4,068 | $5,047 | $5,955 | $7,474 | $9,286 |
Source: Ownwell