How is property tax calculated?

Property tax = Assessed Value × Tax Rate. Assessed value is usually 80-100% of market value, and rates vary by county and state.

What is the average property tax rate in the US?

The national average is about 1.07% of home value per year, ranging from 0.32% (Hawaii) to 2.23% (New Jersey).

Can I lower my property tax?

Yes. Apply for homestead and other exemptions, and consider appealing your assessed value if it seems too high.

What is a homestead exemption?

A homestead exemption reduces the assessed value of your primary residence. For example, a $25,000 exemption on a $300,000 home means you only pay tax on $275,000.

Alaska Property Tax Calculator — Updated 2026

State abbreviation: AK

Alaska has a property tax rate of 0.84% of home value, assessed annually. With a median home price of $420,000, the typical annual property tax bill is $3,528. The state has no income tax, offsetting higher property tax burdens.