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Treasury

 

Real Estate Property Taxes 

How to Read Your Tax Bill

  1. DISTRICT - This represents the tax district where the property is located within the Municipality of Anchorage. The tax district location determines the mill rate to be applied to the property value in calculating the tax amount due. Click here to view Tax District Map.
  2.  ASSESSED VALUATION - This is the taxable value set by the Municipal Assessor's Office based on land and building value as of January 1st of each tax year. This value is multiplied by the overall mill rate to calculate the tax amount due.
  3. PROPERTY DESCRIPTION -This is the legal description of the property. The property description includes subdivision name, block #, lot #, tract and condominium name and unit # associated with the property's parcel ID #.
  4. PROPERTY IDENTIFICATION -This is the legal description's identifying number also known as the account # or parcel #. This ID # corresponds to the legal description and is determined by the Municipal Assessor's Office.
  5. DUE DATES - These are the due dates set for the current year tax installments. Prior year(s) taxes owing, if any, are due with the first half installment. If the account is entitled to a State of Alaska Senior Citizen or Disabled Veteran Exemption, it will appear in this column as: SOA EXEMPT.
  6. TAX AMOUNT - This is the amount of tax principal due for each installment date. If making one payment to pay the account in full this must be made by the first installment due date to avoid penalty and interest. If the parcel is deemed SOA EXEMPT the exemption amount will appear in this column. Use payment coupons to pay "net" tax owed.
  7. INTEREST/PENALTY/COSTS - These are applied to delinquent taxes after the original due dates for the current year's tax installments have passed. Interest accrues on the principal balance of taxes owed. See Frequently Aasked Qquestions for more information on the interest rate calculation. A penalty of 10% is applied one time on each unpaid installment. Costs are accrued on any delinquent tax account for foreclosure publication, notices and recordings and returned check charges, and other collection related costs.
  8. TOTAL AMOUNT - This column is the sum of the principal, interest, penalty and costs for each billed line item. This column carries down from the top to bottom to reflect the total amount due.
  9. TAX MILL RATES - This displays the distribution of tax dollars by service area according to the property's associated tax district location. The mill rate is applied per $1,000 of taxable value. The decimal equivalent of one mill is .001. For example, if the taxable value is $200,000 and the mill rate is 17.15 mills, the tax owing would be $3,430.00.

    Taxable Value
    x Mill Rate

    200 ($200,000 divided by $1,000)
    x17.15 Mills   

    Tax Owing 

    $3,430.00

     

    OR 
    $200,000
    x.01715 

     

    =

    $3,430.00  

        
  10. DISTRIBUTION - Depending on where you live in the municipality, your tax bill is a collection of service area mill rates applicable to your property's location.  Click here to see Tax District Mill Levy Chart and map of Tax District boundaries. 
  11. OWNER-OCCUPIED RESIDENTIAL EXEMPTION -

    ·         On April 3, 2018, Anchorage voters approved an increase in the residential exemption program from 10% to 20% (up to a maximum property valuation exemption of $50,000) for qualified primary residence properties.

    ·         If your primary residence qualified for this exemption in 2017 and the qualification status of your subject property has not changed from one tax year to the next, then you do not need to re-apply to receive this newly increased exemption.

    ·         You must notify the Municipal Assessor’s Office of any change in your original qualification status. See below for additional contact information.

    ·         Any owner of a primary residence who is not currently receiving the Residential Exemption can submit an application to the Municipal Assessor’s Office by no later than March 15 of any given tax year. For additional information, contact the Municipal Assessor’s Office at 343-6770 or visit their website at www,muni.org/pa

  • Your primary residence will continue to automatically receive this exemption each year without further filing unless the subject property no longer qualifies for the exemption. You must notify the Municipal Assessor's Office of any change in your original qualification status.
  • To receive more  information on exemption programs, please visit the Assessor's property tax exemption page