Indian, Alaska Property Taxes
The median property tax rate in Indian, AK is 0.74%, considerably lower than both the national median of 0.99% and the Alaska state median of 1.37%. With the median home value in Indian at $483,400, the typical annual property tax bill reaches $3,525, exceeding the national median of $2,690. Property taxes in Indian 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 Indian'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 Indian 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
Indian, Alaska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$3,577
$3,320
Ownwell’s INDIAN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in INDIAN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in INDIAN 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 Indian, Alaska
Property taxes in Indian, Alaska, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Indian is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Indian set these rates annually, and they can vary significantly across different neighborhoods. Each year, Indian 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 Indian's effective property tax rate to other counties in Alaska and the national median. For comparison, the zip code 99540 has the highest median property tax rate of 0.74%, while the same zip code also has the lowest median tax rate of 0.74%. Understanding how these cities compare with Indian 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 Indian Tax Rate
0.74%
Average Anchorage County Tax Rate
1.70%
Average Alaska Tax Rate
1.37%
Average United States Tax Rate
0.99%
Property Tax Rates Across Indian, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99540 | 0.74% | 0.74% | 0.74% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Indian, Alaska
In Indian, 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 Indian, 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 Indian is $483,400, with tax bills ranging from $2,605 at the 25th percentile to $5,421 at the 90th percentile. Notably, the highest and lowest median tax bills both occur in the 99540 zip code, each at $3,525. 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 Indian helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Indian Assessed Value
$483,400
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 Indian, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99540 | $197,260 | $362,850 | $483,400 | $631,400 | $737,360 |
Source: Ownwell
Property Tax Bills Across Indian, Alaska
In Indian, Anchorage, AK, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For context, the national median property tax rate is 0.99%. Homeowners in Indian can expect their tax bills to vary significantly depending on the value of their property. For instance, the tax bill at the 25th percentile is around $2,605, while at the 75th percentile, it rises to approximately $4,645. For those at the 90th percentile, the tax bill can be as high as $5,421. The highest median tax bill in Anchorage is $3,525, which is also the lowest median tax bill, indicating a consistent tax rate across the area. This system ensures that property taxes are proportionate to the value of the home, impacting homeowners differently based on their property’s assessed value. This can significantly influence the affordability and financial planning for residents in Indian.
Average Indian Tax Bill
$3,525
Average Anchorage County Tax Bill
$5,656
Average Alaska Tax Bill
$3,874
Average United States Tax Bill
$2,690
Property Tax Bills Across Indian, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99540 | $1,254 | $2,605 | $3,525 | $4,645 | $5,421 |
Source: Ownwell