Does Alaska have a statewide property tax?

Alaska has no statewide general property tax. Property tax is levied locally by boroughs and incorporated cities, and many rural areas in the unorganized borough pay no property tax at all. Rates are expressed in mills (dollars per $1,000 of assessed value).

What is a typical mill rate in Alaska?

Mill rates vary widely by borough. The Municipality of Anchorage runs roughly 16-19 mills depending on the service area, Fairbanks North Star Borough is often near 13-18 mills, and Matanuska-Susitna Borough is generally lower. Always use the exact total mill rate from your own tax bill for an accurate figure.

Is there a residential exemption in Alaska?

Yes. State law allows boroughs to exempt up to the first $50,000 of assessed value of an owner-occupied primary residence, and many boroughs (including Anchorage) adopt a 20% exemption capped at $50,000. There are also senior citizen and disabled veteran exemptions worth up to $150,000 of assessed value.

How is the property tax actually calculated?

Subtract any exemptions from your assessed value to get taxable value, then multiply taxable value by the mill rate divided by 1,000. For example, a $400,000 home with a $50,000 exemption taxed at 18 mills owes ($400,000 - $50,000) x 0.018 = $6,300 per year.

Why might my real bill differ from this estimate?

Your actual bill depends on your specific service-area mill rate, which combines borough, city, school, and special-district levies, plus any exemptions you qualify for. This tool gives a budgeting estimate; your borough assessor's office provides the exact figure.

Alaska Property Tax Estimator

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The Alaska property tax estimator gives you a quick estimate of your annual and monthly property-tax bill from your assessed value and your borough’s mill rate. Because Alaska has no statewide property tax and no state income tax, local property and sales taxes carry most of the funding load — and rates differ sharply from borough to borough.

How the calculation works

Alaska boroughs assess property at 100% of fair market value. Your tax is based on the taxable value, which is the assessed value minus any exemptions you qualify for.

The rate is quoted in mills. One mill is $1 of tax per $1,000 of taxable value, so a mill rate of 18 means you pay $18 per $1,000.

taxable value = assessed value - exemptions
annual tax = taxable value x (mill rate / 1000)

Most boroughs offer a residential exemption of up to $50,000 of assessed value on an owner-occupied home. Seniors (65+) and qualifying disabled veterans can exempt up to $150,000.

Worked example

Suppose you own a $400,000 home in Anchorage and qualify for the $50,000 residential exemption, taxed at a total of 18 mills:

Taxable value: $400,000 - $50,000 = $350,000
Annual tax: $350,000 x (18 / 1000) = $6,300
Monthly equivalent: $6,300 / 12 = $525

Tips and notes

Find your real mill rate on your annual tax bill or your borough assessor’s website. It bundles borough, city, school, and service-area levies.
Apply for exemptions. The residential, senior, and disabled-veteran exemptions are not automatic in every borough — file with your assessor.
Unorganized borough. Large parts of rural Alaska levy no property tax. If you live outside an organized borough or incorporated city, your bill may be zero.