What Is the Alaska Senior Property Tax Exemption?

Reducing Property Taxes What Is the Alaska Senior Property Tax Exemption?

How To Get the Alaska Senior Property Tax Exemption Without Bother

Property tax exemptions offer an opportunity to citizens of a county or state to lower their property tax bills. If you live in Alaska, you may want to look into its senior property tax exemption program. 

Seeking information about tax relief programs online is not only boring but also exceptionally hard. You usually need to open a dozen or more web browser tabs and switch between them every two minutes to get an answer to a single question.

Our app helps you get property exemptions by generating a specific guide that contains all the information that you need. If you want to get our property tax exemption guide right away, sign up!

Are Property Taxes in Alaska Expensive?

Since Alaska’s average tax rate of 1.7% is higher than the national average, it cannot be said that it’s a state with low property tax. Not everything is bad news, though. Alaska offers a variety of property tax exemptions to help citizens pay their bills, and it also has a positive tax environment overall. For example, Alaska residents don’t have to pay income taxes.

Every city and borough in Alaska has its own tax rate, which is reset yearly. Here’s a list of some of the areas in Alaska with the lowest and the highest tax rates:

Anchorage Municipality1.32%Prince of Wales-Hyder Census Area0.27%
North Slope Borough1.30%
  • Skagway Municipality
  • Hoonah-Angoon Census Area
Nome Census Area1.29%Sitka City and Borough0.54%
Dillingham Census Area1.28%Wrangell City and Borough0.66%

Tax assessors estimate the market value of your property on a six-year basis, but the property tax changes slightly every year.

If you believe that your property assessment is not accurate, you have 30 days from receiving the statement to appeal your property tax.

What Is the Alaska Senior Citizen Property Tax Exemption?

The state of Alaska is charitable to its senior citizens when it comes to paying property taxes. In Anchorage, for instance, homeowners aged 65 or higher can get a total of $150,000 exempted from their property value.

Since every city and borough has its own tax system, the information may vary by location. Generally, you have until March 15 to apply for a senior citizen property tax exemption.

You should also note that you:

  • Must apply for the exemption in the year you want to receive it
  • Have to notify your tax assessor of changes in use, occupancy, or ownership of the property that’s exempted
  • Don’t have to resubmit an application when there is no change in ownership of your property 
  • Must apply for an exemption again if you purchase a new property

Are You Qualified for the Senior Citizen Property Tax Exemption in Alaska?

In Alaska, you are usually eligible for senior citizen property tax exemptions if you:

  • Are 65 years old or older
  • Occupy the property you own permanently
  • Have been a resident of the city or borough for the entirety of the preceding year
  • Didn’t rent or lease the property to another person while you were not occupying it
  • Are a widow or widower of an eligible citizen and are at least 60 years old 

Alternative Alaska Property Tax Exemptions

Senior citizens property tax exemptions aren’t the only type of tax relief programs Alaska offers to its citizens. You can also apply for:

  1. Disaster exemptions
  2. Residential exemptions
  3. Disabled veterans exemptions

Alaska Disaster Exemptions

Some cities and boroughs, including Anchorage, offer a disaster reassessment program for real property that was destroyed by fire. Disasters that were made by wanton misconduct or gross negligence at the hands of the owner aren’t qualified for tax relief. 

Alaska Residential Exemptions

Alaska also offers a type of homestead exemption, called a residential exemption. Owners can apply to have 20% of their property’s value exempted for taxes.

Residents of Anchorage can save up to $50,000 when they apply for this exemption.

Alaska Disabled Veterans Exemptions

Disabled veteran exemptions work similarly to senior citizen ones. Veterans with a 100% service-connected disability can have $150,000 of their property’s value exempted.

Anyone with at least 50% of disability is qualified. When you apply, you need to submit your VA letter.

Say Goodbye to Information Overload! DoNotPay Makes the Process Quick and Easy!

If you want to learn more about how tax exemptions work in Alaska, whether you are eligible for them, and how to apply error-free, you can use our app! You won’t have to go through complicated government pages or fishy blog posts to find out about tax relief programs if you use our robot lawyer app.

Our app gives you a detailed guide on exemptions that are relevant to your property and your area. 

To get this comprehensive and easy-to-understand guide, you only need to:

  1. Log in to your DoNotPay account
  2. Enter Property Taxes in the search bar
  3. Answer several questions about yourself and your property

If you don’t get an exemption, DoNotPay will also help you appeal your property assessment!

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