Nome, Nome County, Alaska Property Taxes
The median property tax rate in Nome, AK is 1.05%, slightly above the national median of 0.99% but below the Alaska state median of 1.37%. With a median home value of $295,200 in Nome, the typical annual property tax bill reaches $2,883, which is higher than the national median of $2,690. Property taxes in Nome are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Nome'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 Nome 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
Nome, Nome County, Alaska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$3,100
$2,876
Ownwell’s Nome Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nome with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nome 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 Nome, Nome County, Alaska
Property taxes in Nome, Alaska, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nome is 1.05%, which is higher than the U.S. national median of 0.99%. Local government entities within Nome set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nome 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 Nome's effective property tax rate to other counties in Alaska and the national median. For comparison, the 99762 zip code has the highest median property tax rate of 1.05%, while the 99762 zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Nome provides valuable insights into the varying tax landscape across Nome County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nome Tax Rate
1.05%
Average Nome County Tax Rate
1.05%
Average Alaska Tax Rate
1.37%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nome, Nome County, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99762 | 1.05% | 1.05% | 1.05% | 1.05% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Nome, Nome County, Alaska
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Nome, Alaska. 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 Nome 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 Nome, 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. Nome’s median home price stands at $295,200, with the median tax bill at $2,883. Both the highest and lowest median tax bills are found in the 99762 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Nome, Nome County, Alaska
Source: Ownwell
$295,200
$295,200
$295,200
Average Nome Assessed Value
$295,200
Average Nome County Assessed Value
$295,200
Average Alaska Assessed Value
$289,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nome, Nome County, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99762 | $70,560 | $205,950 | $295,200 | $388,950 | $515,580 |
Source: Ownwell
Property Tax Bills Across Nome, Nome County, Alaska
Property tax bills in Nome, a city in Nome County, AK, are determined by several factors, including the assessed value of the property and the local tax rate. The assessed value is an estimate of the property's worth as determined by the county assessor, which is then multiplied by the local tax rate to calculate the annual property tax bill. In Nome, the median home price stands at $295,200, which significantly influences the tax amount. For instance, homeowners at the 25th percentile pay around $1,358 annually, while those at the 75th percentile face a tax bill of approximately $4,580. At the 90th percentile, the tax bill can reach up to $5,418. These property taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, Nome's tax rates reflect the unique economic and social landscape of the region, ensuring that homeowners contribute fairly to the community's well-being.
Average Nome Tax Bill
$2,883
Average Nome County Tax Bill
$2,883
Average Alaska Tax Bill
$3,874
Average United States Tax Bill
$2,690
Property Tax Bills Across Nome, Nome County, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99762 | $627 | $1,358 | $2,883 | $4,580 | $5,418 |
Source: Ownwell