Kodiak Island Borough Property Tax Rate 2024 [Go To Different County]

Kodiak Island Borough, Alaska Property Tax
[Go To Different County]

$1,841.00

Avg. 1.01% of home value

Yearly median tax in Kodiak Island Borough

The median property tax in Kodiak Island Borough, Alaska is $1,841 per year for a home worth the median value of $182,100. Kodiak Island Borough collects, on average, 1.01% of a property's assessed fair market value as property tax.

The average yearly property tax paid by Kodiak Island Borough residents amounts to about 2.37% of their yearly income. Kodiak Island Borough is ranked -1th of the 3143 counties for property taxes as a percentage of median income.

You can use the Alaska property tax map to the left to compare Kodiak Island Borough's property tax to other counties in Alaska. Anchorage Municipality collects the highest property tax in Alaska, levying an average of $3,563.00 (1.32% of median home value) yearly in property taxes, while Hoonah-Angoon Census Area has the lowest property tax in the state, collecting an average tax of $678.00 (0.37% of median home value) per year.

To compare Kodiak Island Borough with property tax rates in other states, see our map of property taxes by state.

Kodiak Island Borough Property Tax Rate

Because Kodiak Island Borough uses a complicated formula to determine the property tax owed on any individual property, it's not possible to condense it to a simple tax rate, like you could with an income or sales tax.

Instead, we provide property tax information based on the statistical median of all taxable properties in Kodiak Island Borough. The median property tax amount is based on the median Kodiak Island Borough property value of $182,100. You can use these numbers as a reliable benchmark for comparing Kodiak Island Borough's property taxes with property taxes in other areas.

Our data allows you to compare Kodiak Island Borough's property taxes by median property tax in dollars, median property tax as a percentage of home value, and median property tax as a percentage of the Kodiak Island Borough median household income.

Note: This page provides general information about property taxes in Kodiak Island Borough. If you need specific tax information or property records about a property in Kodiak Island Borough, contact the Kodiak Island Borough Tax Assessor's Office.

Kodiak Island Borough Property Tax Calculator

Kodiak Island Borough Property Tax Appeal

Kodiak Island Borough calculates the property tax due based on the fair market value of the home or property in question, as determined by the Kodiak Island Borough Property Tax Assessor. Each property is individually t each year, and any improvements or additions made to your property may increase its appraised value.

As a property owner, you have the right to appeal the property tax amount you are charged and request a reassessment if you believe that the value determined by the Kodiak Island Borough Tax Assessor's office is incorrect. To appeal the Kodiak Island Borough property tax, you must contact the Kodiak Island Borough Tax Assessor's Office.

You will be provided with a property tax appeal form, on which you will provide the tax assessor's current appraisal of your property as well as your proposed appraisal and a description of why you believe your appraisal is more accurate.

Previous appraisals, expert opinions, and appraisals for similar properties may be attached to the appeal as supporting documentation. If your appeal is successful, your property will be reassessed at a lower valuation and your Kodiak Island Borough property taxes will be lowered accordingly.

If your appeal is denied, you still have the option to re-appeal the decision. If no further administrative appeals can be made, you can appeal your Kodiak Island Borough tax assessment in court.

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Kodiak Island Borough Property Tax Assessor

The Kodiak Island Borough Tax Assessor is responsible for assessing the fair market value of properties within Kodiak Island Borough and determining the property tax rate that will apply. The Tax Assessor's office can also provide property tax history or property tax records for a property. These property tax records are excellent sources of information when buying a new property or appealing a recent appraisal.

Most county assessors' offices are located in or near the county courthouse or the local county administration building. You can look up the Kodiak Island Borough Assessor's contact information here (opens in external website).

What is the Kodiak Island Borough Property Tax?

Proceeds from the Kodiak Island Borough Personal Property Tax are used locally to fund school districts, public transport, infrastructure, and other municipal government projects. Property tax income is almost always used for local projects and services, and does not go to the federal or state budget.

Unlike other taxes which are restricted to an individual, the Kodiak Island Borough Property Tax is levied directly on the property. Unpaid property tax can lead to a property tax lien, which remains attached to the property's title and is the responsibility of the current owner of the property. Tax liens are not affected by transferring or selling the property, or even filing for bankruptcy. Property tax delinquency can result in additional fees and interest, which are also attached to the property title.

In cases of extreme property tax delinquency, the Kodiak Island Borough Tax Board may seize the delinquent property and offer it for sale at a public tax foreclosure auction, often at a price well under market value. Proceeds of the sale first go to pay the property's tax lien, and additional proceeds may be remitted to the original owner.

Kodiak Island Borough Homestead Exemption

For properties considered the primary residence of the taxpayer, a homestead exemption may exist. The Kodiak Island Borough Homestead Exemption can reduce the appraised valuation of a primary residence before calculating the property tax owed, resulting in a lower annual property tax rate for owner-occupied homes.

Getting a Homestead Exemption may also help protect your home from being repossessed in the case of a property tax lien due to unpaid Kodiak Island Borough property taxes or other types of other debt.

In most counties, you must specifically submit a homestead exemption application to your county tax assessor in order to enjoy the tax reduction and other benefits available. To get a copy of the Kodiak Island Borough Homestead Exemption Application, call the Kodiak Island Borough Assessor's Office and ask for details on the homestead exemption program. You can also ask about other exemptions that may exist for veterans, seniors, low-income families, or property used for certain purposes such as farmland or open space.

Kodiak Island Borough Property Tax Deduction

You can usually deduct 100% of your Kodiak Island Borough property taxes from your taxable income on your Federal Income Tax Return as an itemized deduction. Alaska may also let you deduct some or all of your Kodiak Island Borough property taxes on your Alaska income tax return.

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