Valdez-cordova County Property Taxes
The median property tax rate in Valdez-Cordova is 1.15%, which is higher than the national median of 0.99% but lower than Alaska's state median of 1.37%. With a median home value of $157,850 in Valdez-Cordova, the typical annual property tax bill amounts to $1,838, which is below the national median of $2,690. Property taxes in Valdez-Cordova are calculated based on the assessed value, which is often less than the actual market value due to exemptions like the primary residence exemption. Understanding the specific property tax system in Valdez-Cordova, exploring available exemptions, and identifying opportunities for property tax reductions can lead to significant annual savings. Whether you reside in Valdez or another part of Valdez-Cordova, gaining a thorough understanding of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Valdez-cordova County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$1,815
Ownwell’s Valdez-Cordova Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Valdez-Cordova with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Valdez-Cordova to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Valdez-cordova County, Alaska
Property taxes in Valdez-Cordova play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Valdez-Cordova is 1.15%, which is higher than the U.S. national median of 0.99%. Local government entities within Valdez-Cordova set these rates annually, and they can vary significantly between different areas within the county. Each year, Valdez-Cordova estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Valdez-Cordova's effective property tax rate with other counties in Alaska and the national median. For comparison, the city of Cordova has one of the higher property tax rates in Alaska at 1.15%, while the city of Cordova also boasts one of the lowest at 1.15%. Analyzing how Valdez-Cordova's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Valdez-cordova County Tax Rate
1.15%
Average Alaska Tax Rate
1.37%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Valdez-cordova County, Alaska
In Valdez-Cordova, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Valdez-Cordova Appraisal District. The assessed value, however, 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. Assessment notices in Valdez-Cordova are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. In Valdez-Cordova, Cordova has the highest median tax bill at $3,167, which can be contrasted with the national median property tax rate of 0.99%. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Valdez-cordova County, Alaska
Source: Ownwell
$295,100
$295,100
$295,100
Average Valdez-cordova County Assessed Value
$157,850
Average Alaska Assessed Value
$289,400
Average United States Assessed Value
$244,900
Property Tax Bills Across Valdez-cordova County, Alaska
In Valdez-Cordova, AK, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor's office, which evaluates the property's market value. For a home with a median price of $157,850, homeowners can expect varying tax bills depending on the assessed value and applicable exemptions. Factors influencing the tax bill include the property's location, size, and condition, as well as any improvements or additions. In Valdez-Cordova, the 25th percentile tax bill is $233, while the 75th percentile tax bill reaches $3,192. The 90th percentile tax bill can go as high as $4,124, indicating significant variation based on property characteristics. For homeowners, understanding these factors is crucial as they directly impact the annual financial obligation. Compared to the national median property tax rate of 0.99%, Valdez-Cordova's rates can seem relatively high, especially in areas like Cordova, where the median tax bill hits $3,167. This variability underscores the importance of accurate property assessments and awareness of local tax policies.
Average Valdez-cordova County Tax Bill
$1,838
Average Alaska Tax Bill
$3,874
Average United States Tax Bill
$2,690