Fritz Creek, Alaska Property Taxes
The median property tax rate in Fritz Creek, AK is 0.84%, lower than both the national median of 0.99% and the Alaska state median of 1.37%. With the median home value in Fritz Creek at $195,000, the typical annual property tax bill amounts to $1,665, which is also below the national median of $2,690. Property taxes in Fritz Creek 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 Fritz Creek'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 Fritz Creek or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fritz Creek, Alaska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,638
$1,520
Ownwell’s Fritz Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fritz Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fritz Creek 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 Fritz Creek, Alaska
Property taxes in Fritz Creek, Alaska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fritz Creek is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Fritz Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fritz Creek 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 Fritz Creek's effective property tax rate to other areas in Alaska and the national median. For comparison, the zip code 99603 has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these areas compare with Fritz Creek provides valuable insights into the varying tax landscape across Kenai Peninsula, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fritz Creek Tax Rate
0.84%
Average Kenai Peninsula County Tax Rate
0.87%
Average Alaska Tax Rate
1.37%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fritz Creek, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99603 | 0.80% | 0.82% | 0.84% | 0.87% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Fritz Creek, Alaska
In Fritz Creek, 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 Kenai Peninsula 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. 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 Fritz Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fritz Creek is $195,000, with the highest and lowest median tax bills both being $1,665 in the 99603 zip code.
Average Fritz Creek Assessed Value
$195,000
Average Kenai Peninsula County Assessed Value
$187,000
Average Alaska Assessed Value
$289,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fritz Creek, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99603 | $168,440 | $178,400 | $195,000 | $211,600 | $221,560 |
Source: Ownwell
Property Tax Bills Across Fritz Creek, Alaska
In Fritz Creek, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Homeowners in Fritz Creek can expect their property tax bills to vary depending on several factors, including the assessed value of their home and the local tax rate. For example, the median home price in Fritz Creek is $195,000. Property tax bills for this area range widely, with the 25th percentile bill at $1,474 and the 75th percentile bill at $1,855. The highest median tax bill in the area is $1,665, which is notably higher than the national median property tax rate of 0.99%. These property taxes fund essential services such as schools, public safety, and infrastructure, impacting homeowners by contributing to the overall quality of life in Fritz Creek. Understanding how these taxes are calculated can help homeowners better manage their financial planning and property investments.
Average Fritz Creek Tax Bill
$1,665
Average Kenai Peninsula County Tax Bill
$1,110
Average Alaska Tax Bill
$3,874
Average United States Tax Bill
$2,690
Property Tax Bills Across Fritz Creek, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99603 | $1,360 | $1,474 | $1,665 | $1,855 | $1,970 |
Source: Ownwell