Property Tax in Alaska: What You Need to Know
February 6, 2018 |
Alaska is the largest state in US, but only a small portion of the state is subject to property tax. It’s important to know what areas of Alaska are subject to property tax because this could influence your property purchase decision.
Of the 10 boroughs* in Alaska, only 15 require property taxes. Of the 165 incorporated municipalities* in Alaska, only 24 levy a property tax. (Borough = county, Municipality = cities or towns)
ïReal estate located within the boundaries of municipalities (cities or towns) or counties (called boroughs in Alaska) can be taxed, which goes toward paying for the services that city or borough provides to that area such as firefighting, schools, police,
government, buildings, etc.
ïProperty taxes are paid by the individuals, corporations, limited liability companies, partnerships, and government entities. The amount of property taxes varies by location. As you consider what property to purchase, determine if property taxes are
required and the anticipated amount.
ïAlaska exempts from taxes on the first $150,000 of assessed property value for all senior citizens (65 and older) and disabled veterans
Do you have unanswered questions on property taxes in Alaska? We can help. We sell homes throughout Alaska and know the property tax values as they vary from borough to borough.