Homer, Kenai Peninsula County, Alaska Property Taxes
Median Homer, AK effective property tax rate: 1.01%, slightly lower than the national median of 1.02%, but lower than the Alaska state median of 1.37%.
Median Homer, AK home value: $236,400
Median annual Homer, AK tax bill: $1,696, $704 lower than the national median property tax bill of $2,400.
How are property taxes in Kenai Peninsula calculated?
Property taxes in Homer, AK are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Homer’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Homer, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Homer, Kenai Peninsula County, Alaska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.01%
Estimate Property Tax Bill
$2,388
$2,216
Property Tax Rates Across Homer, Kenai Peninsula County, Alaska
Local government entities determine tax rates, which can differ significantly within a state. This variation arises because each county annually calculates the necessary budget to provide services and divides it by the total assessed value of all taxable properties within its jurisdiction, resulting in the property tax rate. Although votes and legal frameworks play roles in setting these rates and budgets, this is the fundamental process each year.
In Homer, located in Kenai Peninsula County, the effective property tax rate is an important figure for property owners to consider. Comparing this rate to other cities within Alaska and against the national median provides valuable context. The median property tax rate in Alaska is 1.01%, which is slightly below the national median of 1.02%. This suggests that property owners in Homer might experience a slightly lower tax burden compared to the national average. Understanding these rates can help property owners make informed decisions about property investments and potential tax appeals.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Homer Taxx Rate
1.01%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Kenai Peninsula County Taxx Rate
0.87%
Median Effective Alaska Tax Rate
1.37%
Median Effective United States Tax Rate
0.99%
Property Tax Rates Across Homer, Kenai Peninsula County, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99603 | 0.12% | 0.64% | 1.01% | 1.09% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Homer, Kenai Peninsula County, Alaska
When examining property taxes in Homer, Alaska, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Kenai Peninsula County estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Kenai Peninsula County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Homer. For example, the median home price in Homer is $236,400, with tax bills ranging significantly across the county. 99603 has the highest median home price at $236,400.
Property Tax Assessment Values Across Homer, Kenai Peninsula County, Alaska
Source: Ownwell
$116,300
$217,950
$319,600
Median Homer Market Value
$236,400
Median Kenai Peninsula County Market Value
$187,000
Median Alaska Market Value
$289,400
Median United States Market Value
$244,900
Property Tax Assessment Values Across Homer, Kenai Peninsula County, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99603 | $60,620 | $127,900 | $236,400 | $356,175 | $492,000 |
Source: Ownwell
Property Tax Bills Across Homer, Kenai Peninsula County, Alaska
Median Homer Tax Bill
$1,696
Median Kenai Peninsula County Tax Bill
$1,110
Median Alaska Tax Bill
$3,874
Median United States Tax Bill
$2,690
Property Tax Bills Across Homer, Kenai Peninsula County, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99603 | $195 | $687 | $1,696 | $3,087 | $4,518 |
Source: Ownwell