Port Lions, Alaska Property Taxes
The median property tax rate in Port Lions, AK is 1.03%, slightly above the national median of 0.99% but lower than the Alaska state median of 1.37%. With a median home value of $83,200 in Port Lions, the typical annual property tax bill reaches $792, which is significantly below the national median of $2,690. Property taxes in Port Lions are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Port Lions' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Port Lions 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
Port Lions, Alaska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$857
$795
Ownwell’s Port Lions Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Port Lions with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Port Lions 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 Port Lions, Alaska
Property taxes in Port Lions, Alaska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Port Lions is 1.03%, higher than both the Alaska state median and the U.S. national median of 0.99%. Local government entities within Port Lions set these rates annually, and they can vary significantly across different neighborhoods. Each year, Port Lions 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 Port Lions' effective property tax rate to other counties in Alaska and the national median. For comparison, the 99550 zip code has both the highest and lowest median property tax rate of 1.03%. Understanding how these cities compare with Port Lions provides valuable insights into the varying tax landscape across Kodiak Island, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Port Lions Tax Rate
1.03%
Average Kodiak Island County Tax Rate
1.22%
Average Alaska Tax Rate
1.37%
Average United States Tax Rate
0.99%
Property Tax Rates Across Port Lions, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99550 | 1.02% | 1.02% | 1.03% | 1.03% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Port Lions, Alaska
In Port Lions, 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 Kodiak Island Borough Assessor's Office 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 Port Lions, 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 Port Lions is $83,200, with the tax bill ranging from $667 at the 25th percentile to $1,527 at the 90th percentile. 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 Port Lions helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Port Lions Assessed Value
$83,200
Average Kodiak Island County Assessed Value
$309,800
Average Alaska Assessed Value
$289,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Port Lions, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99550 | $54,640 | $69,000 | $83,200 | $114,850 | $150,420 |
Source: Ownwell
Property Tax Bills Across Port Lions, Alaska
In Port Lions, located in Kodiak Island County, AK, property tax bills are calculated based on the assessed value of the home. The median home price in Port Lions is $83,200. To determine the tax bill, local tax authorities apply a specific tax rate to the assessed value of the property. Factors such as property size, location, and condition can influence the assessed value. Homeowners in Port Lions can expect their property tax bills to vary. For instance, the 25th percentile tax bill is $667, while the 75th percentile tax bill is $1,143. Those in the 90th percentile might see tax bills as high as $1,527. Compared to the national median property tax rate of 0.99%, the property tax rates in this region can be considered moderate. Understanding these factors is crucial for homeowners as property taxes significantly impact annual housing costs. Accurate assessments ensure that homeowners pay a fair share relative to their property's value.
Average Port Lions Tax Bill
$792
Average Kodiak Island County Tax Bill
$3,451
Average Alaska Tax Bill
$3,874
Average United States Tax Bill
$2,690
Property Tax Bills Across Port Lions, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99550 | $427 | $667 | $792 | $1,143 | $1,527 |
Source: Ownwell