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Alaska Property Tax

Alaska Property Tax is applicable to only a small portion of land mass, although it is the largest state in the United States. There are 17 Boroughs in the state of Alaska, out of which only 13 impose a property tax. Moreover, property taxes in Alaska are paid by the residents of only 12 cities and 25 municipalities. The list of these 25 municipalities can be had from the Directory of Taxing Jurisdictions.

Thus, Alaska is a unique state in the United States where property tax is not levied on a large portion of land mass. The state of Alaska has a number of communities and many of these are still not incorporated. Of the 162 incorporated municipalities, 17 are incorporated into Boroughs while the remaining 145 are incorporated as cities. The smaller incorporated municipalities prefer sales tax to property tax because they do not have a large tax base to support the property tax. The unincorporated municipalities of the state are not authorized legally to levy a tax.

In order to assess the amount of property tax, the budget requirements for a municipality are determined first and then all sources of revenue are identified. The difference in revenue resources and the budgeted amount is the amount needed to be generated through property taxes. A mill rate is calculated then by dividing the amount required to be raised through property tax by the total assessed value.
Since a mill equals one thousandth of a dollar, the mill rate means that the amount of tax will be charged for each $1,000 of assessed value. To know more about the Alaska Property Tax or Alaska Real Estate Tax, visit the official site of state government and the Tax Division of the Alaska Department of Revenue.


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