Point Lay, Alaska Property Taxes
The median property tax rate in Point Lay, AK is 1.80%, considerably higher than both the national median of 0.99% and the Alaska state median of 1.37%. With the median home value in Point Lay, the typical annual property tax bill reaches $892, which is below the national median of $2,690. Property taxes in Point Lay 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 Point Lay'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 Point Lay 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
Point Lay, Alaska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$1,708
$1,585
Ownwell’s Point Lay Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Point Lay with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Point Lay 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 Point Lay, Alaska
Property taxes in Point Lay, Alaska, are essential for funding critical local services like public schools, road maintenance, and emergency services. The median tax rate in Point Lay is 1.80%, significantly higher than both the Alaska state median and the U.S. national median of 0.99%. Local government entities within Point Lay set these rates annually, and they can vary significantly across different neighborhoods. Each year, Point Lay 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 Point Lay's effective property tax rate to other counties in Alaska and the national median. For comparison, the zip code 99759 has the highest median property tax rate of 1.80%, while the same zip code also has the lowest median tax rate of 1.80%. Understanding how these areas compare with Point Lay provides valuable insights into the varying tax landscape across North Slope, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Point Lay Tax Rate
1.80%
Average North Slope County Tax Rate
1.80%
Average Alaska Tax Rate
1.37%
Average United States Tax Rate
0.99%
Property Tax Rates Across Point Lay, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99759 | 0.40% | 0.65% | 1.80% | 1.80% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Point Lay, Alaska
In Point Lay, 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 North Slope 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 Point Lay, 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 Point Lay is $94,900, with tax bills ranging from $737 at the 25th percentile to $1,828 at the 90th percentile. Notably, the zip code with both the highest and lowest median tax bill is 99759, with a median tax bill of $892. 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 Point Lay helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Point Lay Assessed Value
$94,900
Average North Slope County Assessed Value
$130,000
Average Alaska Assessed Value
$289,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Point Lay, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99759 | $48,920 | $63,600 | $94,900 | $120,000 | $157,720 |
Source: Ownwell
Property Tax Bills Across Point Lay, Alaska
Property tax bills in Point Lay, located in North Slope County, AK, are determined by several factors, primarily the assessed value of the property and the local tax rate. The assessed value is based on the market value of the home, which in this region has a median home price of $94,900. The local tax rate is applied to this assessed value to calculate the annual tax bill. For homeowners in Point Lay, the tax bill can vary significantly. For example, the 25th percentile tax bill is approximately $737, while the 75th percentile tax bill is around $1,437. At the higher end, the 90th percentile tax bill can reach up to $1,828. These figures are comparatively lower than the national median property tax rate of 0.99%, making Point Lay relatively more affordable in terms of property taxes. Understanding these factors can help homeowners in Point Lay anticipate their annual tax obligations and budget accordingly, ensuring they are prepared for any financial impact.
Average Point Lay Tax Bill
$892
Average North Slope County Tax Bill
$2,211
Average Alaska Tax Bill
$3,874
Average United States Tax Bill
$2,690
Property Tax Bills Across Point Lay, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99759 | $388 | $737 | $892 | $1,437 | $1,828 |
Source: Ownwell