Big Lake, Alaska Property Taxes
The median property tax rate in Big Lake, AK is 1.12%, which is higher than the national median of 0.99% but lower than the Alaska state median of 1.37%. With the median home value in Big Lake at $91,350, the typical annual property tax bill reaches $932, significantly below the national median of $2,690. Property taxes in Big Lake are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Big Lake'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 Big Lake 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
Big Lake, Alaska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$1,023
$949
Ownwell’s Big Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Big Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Big Lake 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 Big Lake, Alaska
Property taxes in Big Lake, Alaska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Big Lake is 1.12%, higher than the U.S. national median of 0.99%. Local government entities within Big Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Big Lake 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 Big Lake's effective property tax rate to other areas in Matanuska-Susitna County and the national median. For comparison, the 99623 zip code has the highest median property tax rate of 1.32%, while the 99652 zip code has the lowest median tax rate of 1.12%. Understanding how these areas compare with Big Lake provides valuable insights into the varying tax landscape across Matanuska-Susitna County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Big Lake Tax Rate
1.12%
Average Matanuska-susitna County Tax Rate
1.21%
Average Alaska Tax Rate
1.37%
Average United States Tax Rate
0.99%
Property Tax Rates Across Big Lake, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99623 | 1.23% | 1.32% | 1.32% | 1.32% | 1.32% |
| 99652 | 1.12% | 1.12% | 1.12% | 1.12% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Big Lake, Alaska
In Big Lake, 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 Matanuska-Susitna 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. In Big Lake, 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. For example, the highest median tax bill in the area is $3,843 in the 99623 zip code, while the lowest is $712 in the 99652 zip code. 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 Big Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Big Lake Assessed Value
$91,350
Average Matanuska-susitna County Assessed Value
$277,600
Average Alaska Assessed Value
$289,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Big Lake, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99623 | $115,260 | $183,925 | $286,100 | $332,375 | $433,230 |
| 99652 | $37,550 | $45,475 | $69,200 | $128,225 | $239,950 |
Source: Ownwell
Property Tax Bills Across Big Lake, Alaska
In Big Lake, located in Matanuska-Susitna County, property tax bills are calculated based on the assessed value of your home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to generate your annual property tax bill. For instance, with a median home price of $91,350, homeowners can expect varying tax bills. The 25th percentile tax bill is around $574, while the 75th percentile reaches up to $2,784. The 90th percentile tax bill can be as high as $4,320, indicating significant variability based on property value and specific assessments. Homeowners in Big Lake experience differing impacts on their finances due to these tax bills. Compared to the national median property tax rate of 0.99%, the figures in Big Lake offer a unique perspective on local taxation. For example, the highest median tax bill in the area is $3,843 in the 99623 zip code, while the lowest is $712 in the 99652 zip code. Understanding these factors can help homeowners better plan for their annual expenses.
Average Big Lake Tax Bill
$932
Average Matanuska-susitna County Tax Bill
$2,908
Average Alaska Tax Bill
$3,874
Average United States Tax Bill
$2,690
Property Tax Bills Across Big Lake, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99623 | $1,399 | $3,284 | $3,843 | $4,361 | $5,329 |
| 99652 | $421 | $502 | $712 | $1,421 | $2,441 |
Source: Ownwell