Municipal Real Property Tax Overview


Every year, the majority of Oceanview homeowners pay approximately 1.5% of their home’s value to the Municipality of Anchorage in the form of a Municipal Real Property Tax payment.  All homeowners pay property taxes unless their exemptions exceed their assessed value.  The reason I say “the majority of Oceanview homeowners pay approximately 1.5%” is that a minority of homeowners receive senior citizen or disabled veteran exemptions, which significantly lower their annual property tax bill.  Their bill may be less than 1% of their home’s value.

So why is it that we have to pay property taxes in the first place?  The answer is: To pay for basic local government services.   Approximately half of our property taxes pay for approximately 25% of the Anchorage School District’s annual expenses.  The remaining half of our tax payment is somewhat evenly distributed between Municipal Police, Fire and Roads & Drainage.  Parks and Rec gets a small piece of that pie as well.  That’s what our property taxes are for, and explains the need for the Municipal Assessor’s Office, as well as the couple dozen municipal appraisers involved in the difficult and time-consuming process of reassessing over 90,000 property parcels every year.  Is there a simpler and less costly way for the MOA to get its annual revenue stream from us?  Sure there is…..but it would involve a huge political debate over the best and fairest method to determine who pays, and how much.  As a result, the traditional property tax methodology is likely to continue through the foreseeable future.

The map below shows most of the 56 tax districts in the Municipality of Anchorage.  MOA Property Tax District Map

The chart below shows the breakdown of the 2012 Real Property Tax Mill Rate Levy by individual tax district.  It shows how funds are distributed by tax district.  As you can see, mill rates vary from tax district to district depending on provided services.  In other words, if you live on the hillside in a limited road service and limited fire service area, you’ll be paying less property taxes due to your lower mill rate.  Oceanview homeowners are in Tax District #3, identified on the righthand side of the chart.  In 2012, we paid $15.57 per $1,000 of assessed valuation on our homes.MOA Property Tax Mill Rate Levy Chart

2013 mill rates will be determined prior to the mailing of tax bills in May, 2013.

The links below are to previous posts regarding various aspects of MOA Real Property Taxes.

Click here for: Municipal Property Tax Important Dates and Information.

Click here for: March 15th: Residential Property Tax Exemption Application Deadline.

Click here for: Have You Taken Advantage Of The Municipal Property Tax Residential Exemption?

Click here for: Are You Taking Advantage Of All Property Tax Exemptions For Which You Are Qualified And Entitled?

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This entry was posted in Anchorage Area Real Estate, Oceanview, Property Taxes and tagged , , , , , . Bookmark the permalink.

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