Kodiak Island County, Alaska Property Taxes
The median property tax rate in Kodiak Island is 1.22%, which is significantly higher than both the national median of 0.99% and the Alaska state median of 1.37%. With the median home value in Kodiak Island at $309,800, the typical annual property tax bill reaches $3,451, exceeding the national median of $2,690. Property taxes in Kodiak Island are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Kodiak Island's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Kodiak or another part of Kodiak Island, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kodiak Island County, Alaska Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$3,780
$3,507
Ownwell’s Kodiak Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Kodiak Island with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Kodiak Island 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 Kodiak Island County, Alaska
Property taxes in Kodiak Island play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Kodiak Island is 1.22%, which is higher than the U.S. national median of 0.99%. Local government entities within Kodiak Island set these rates annually, and they can vary significantly between different areas within the county. Each year, Kodiak Island 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 Kodiak Island's effective property tax rate with other areas in Alaska and the national median. For comparison, the city of Kodiak has one of the higher property tax rates in Alaska at 1.23%, while the city of Ouzinkie boasts one of the lowest at 1.03%. Analyzing how Kodiak Island's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Kodiak Island County Tax Rate
1.22%
Average Alaska Tax Rate
1.37%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kodiak Island County, Alaska
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Kodiak | 0.73% | 1.03% | 1.23% | 1.32% | 1.34% |
| Larsen Bay | 1.02% | 1.02% | 1.03% | 1.03% | 1.03% |
| Old Harbor | 1.02% | 1.02% | 1.03% | 1.03% | 1.03% |
| Ouzinkie | 1.02% | 1.02% | 1.03% | 1.03% | 1.03% |
| Port Lions | 1.02% | 1.02% | 1.03% | 1.03% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Kodiak Island County, Alaska
In Kodiak Island, 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 Kodiak Island 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 Kodiak Island 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. Being aware of these valuation processes in Kodiak Island will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Notably, Kodiak has the highest median tax bill at $3,693, while Ouzinkie has the lowest at $554.
Property Tax Assessment Values Across Kodiak Island County, Alaska
Source: Ownwell
$53,500
$190,600
$327,700
Average Kodiak Island County Assessed Value
$309,800
Average Alaska Assessed Value
$289,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kodiak Island County, Alaska
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Kodiak | $85,890 | $224,500 | $327,650 | $390,425 | $467,310 |
| Larsen Bay | $35,960 | $52,800 | $65,550 | $86,800 | $105,640 |
| Old Harbor | $36,720 | $47,250 | $53,500 | $59,925 | $84,680 |
| Ouzinkie | $37,290 | $44,675 | $55,500 | $69,925 | $100,830 |
| Port Lions | $54,640 | $69,000 | $83,200 | $114,850 | $150,420 |
Source: Ownwell
Property Tax Bills Across Kodiak Island County, Alaska
In Kodiak Island, Alaska, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the home. Various factors such as property size, location, and improvements are considered to determine this value. Homeowners then apply the local tax rate to the assessed value to determine their annual tax bill. For instance, the median home price in Kodiak Island is $309,800. Homeowners in this region can expect their tax bills to vary significantly. The 25th percentile tax bill is around $1,952, while the 75th percentile tax bill reaches $4,727, and the 90th percentile tax bill can go up to $5,630. The highest median tax bill is found in Kodiak city at $3,693, whereas Ouzinkie has the lowest median tax bill at $554. Comparing these figures to the national median property tax rate of 0.99%, Kodiak Island's rates reflect the diverse property values and local tax policies. These variations impact homeowners differently, affecting their annual financial planning and overall cost of homeownership.
Average Kodiak Island County Tax Bill
$3,451
Average Alaska Tax Bill
$3,874
Average United States Tax Bill
$2,690
Property Tax Bills Across Kodiak Island County, Alaska
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Kodiak | $948 | $2,383 | $3,693 | $4,805 | $5,707 |
| Larsen Bay | $314 | $451 | $604 | $849 | $1,144 |
| Old Harbor | $491 | $539 | $581 | $688 | $897 |
| Ouzinkie | $350 | $472 | $554 | $638 | $834 |
| Port Lions | $427 | $667 | $792 | $1,143 | $1,527 |
Source: Ownwell