Sutton, Alaska Property Taxes
The median property tax rate in Sutton, AK is 1.21%, 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 Sutton at $93,400, the typical annual property tax bill is $909, which falls below the national median of $2,690. Property taxes in Sutton are calculated based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Sutton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Sutton 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
Sutton, Alaska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$1,130
$1,049
Ownwell’s Sutton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Sutton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sutton to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those 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 Sutton, Alaska
Property taxes in Sutton, Alaska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sutton is 1.21%, higher than the U.S. national median of 0.99%. Local government entities within Sutton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sutton 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 Sutton's effective property tax rate to other areas and the national median. For comparison, the 99674 zip code has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these areas compare with Sutton 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 Sutton Tax Rate
1.21%
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 Sutton, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99674 | 0.88% | 0.88% | 1.21% | 1.62% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Sutton, Alaska
In Sutton, 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 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 Sutton, 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 Sutton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 99674 has both the highest and lowest median tax bill at $909.
Average Sutton Assessed Value
$93,400
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 Sutton, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99674 | $25,280 | $44,850 | $93,400 | $234,800 | $365,560 |
Source: Ownwell
Property Tax Bills Across Sutton, Alaska
In Sutton, located in Matanuska-Susitna County, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local tax assessor and is intended to represent the market value of the property. Homeowners in Sutton can expect their property tax bill to fall within a certain range depending on various factors including property size, location, and improvements made. For example, the median home price in Sutton is $93,400. Property tax bills in the area can vary significantly, with the 25th percentile tax bill at $462 and the 75th percentile tax bill at $2,389. At the higher end, the 90th percentile tax bill reaches $4,254. These variations highlight how different factors can influence the final tax amount. Compared to the national median property tax rate of 0.99%, Sutton's tax environment can be considered moderate, but individual circumstances will ultimately determine the exact impact on homeowners. Understanding these factors can help homeowners anticipate their property tax obligations more accurately.
Average Sutton Tax Bill
$909
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 Sutton, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99674 | $251 | $462 | $909 | $2,389 | $4,254 |
Source: Ownwell