Willow, Alaska Property Taxes
The median property tax rate in Willow, AK is 1.48%, considerably higher than both the national median of 0.99% and the Alaska state median of 1.37%. With the median home value in Willow at $133,700, the typical annual property tax bill reaches $1,744, exceeding the national median of $2,690. Property taxes in Willow are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Willow'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 Willow 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
Willow, Alaska Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$2,740
Ownwell’s Willow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Willow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Willow 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 Willow, Alaska
Property taxes in Willow, Alaska, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Willow is 1.48%, significantly higher than the U.S. national median of 0.99%. Local government entities within Willow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Willow 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 Willow's effective property tax rate to other areas in Alaska and the national median. For comparison, the 99688 zip code has the highest median property tax rate of 1.48%, while the 99683 zip code has the lowest median tax rate of 1.31%. Understanding how these areas compare with Willow 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 Willow Tax Rate
1.48%
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 Willow, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99683 | 1.31% | 1.31% | 1.31% | 1.31% | 1.31% |
| 99688 | 1.14% | 1.48% | 1.48% | 1.48% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Willow, Alaska
In Willow, 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 Willow, 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. The highest median tax bill in Willow is $1,756 in zip code 99688, while the lowest median tax bill is $199 in zip code 99683. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Willow Assessed Value
$133,700
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 Willow, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99683 | $12,980 | $15,200 | $18,900 | $40,150 | $52,900 |
| 99688 | $24,400 | $51,855 | $134,200 | $281,775 | $449,450 |
Source: Ownwell
Property Tax Bills Across Willow, Alaska
In Willow, located in Matanuska-Susitna County, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. The median home price in Willow is approximately $133,700. To determine the tax bill, the assessed value is multiplied by the local property tax rate. Factors such as property size, location, and improvements play a crucial role in determining the assessed value. Homeowners in Willow experience a range of property tax bills. For instance, the 25th percentile tax bill is around $711, while the 75th percentile reaches $3,729, and the 90th percentile can be as high as $6,254. The highest median tax bill in the area is $1,756, found in the 99688 zip code, whereas the lowest median tax bill is $199 in the 99683 zip code. Compared to the national median property tax rate of 0.99%, Willow's property tax rates can significantly impact homeowners, depending on their property's assessed value and location within the county.
Average Willow Tax Bill
$1,744
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 Willow, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99683 | $160 | $175 | $199 | $223 | $238 |
| 99688 | $338 | $718 | $1,756 | $3,730 | $6,255 |
Source: Ownwell