Wainwright, Alaska Property Taxes
The median property tax rate in Wainwright, AK is 1.35%, slightly lower than the Alaska state median of 1.37% but still higher than the national median of 0.99%. With the median home value in Wainwright at $91,700, the typical annual property tax bill is $1,009, which is below the national median of $2,690. Property taxes in Wainwright 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 Wainwright'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 Wainwright 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
Wainwright, Alaska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$1,238
Ownwell’s Wainwright Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wainwright with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wainwright 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 Wainwright, Alaska
Property taxes in Wainwright, Alaska, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wainwright is 1.35%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wainwright set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wainwright 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 Wainwright's effective property tax rate to other areas in North Slope and the national median. For comparison, the zip code 99782 has the highest median property tax rate of 1.35%, while the same zip code also has the lowest median tax rate of 1.35%. Understanding how these areas compare with Wainwright 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 Wainwright Tax Rate
1.35%
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 Wainwright, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99782 | 0.36% | 0.59% | 1.35% | 1.80% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Wainwright, Alaska
In Wainwright, 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 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 Wainwright, 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 Wainwright is $91,700, with tax bills ranging from $641 at the 25th percentile to $1,971 at the 90th percentile. Notably, the zip code 99782 has both the highest and lowest median tax bill at $1,009. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wainwright Assessed Value
$91,700
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 Wainwright, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99782 | $45,400 | $61,250 | $91,700 | $113,800 | $128,260 |
Source: Ownwell
Property Tax Bills Across Wainwright, Alaska
In Wainwright, located in North Slope County, AK, property tax bills are calculated based on the assessed value of the home and the local tax rate. The median home price in Wainwright stands at $91,700. To determine the tax bill, the assessed value of the property is multiplied by the local tax rate. Homeowners in the area experience varying tax bills, with the 25th percentile paying around $641, and the 75th percentile seeing bills as high as $1,678. At the higher end, the 90th percentile faces tax bills nearing $1,971. These tax bills are influenced by several factors, including property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Wainwright's effective rates reflect the unique economic and property market conditions of the region. For homeowners, understanding these variables is crucial, as property taxes directly impact annual budgeting and the overall cost of owning a home in Wainwright.
Average Wainwright Tax Bill
$1,009
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 Wainwright, Alaska
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99782 | $332 | $641 | $1,009 | $1,678 | $1,971 |
Source: Ownwell