Test Your Knowledge on Alaska’s Taxes

In Alaska, there are 15 boroughs and municipalities which have been given the right to tax properties by Alaska’s Constitution. And every year the Municipality of Anchorage publishes an Appraisal Valuation Report to inform its residents how properties are taxed in the MOA. Take this quiz to better understand your local property taxes and how we rank in the state and nation when it comes to the taxes we pay. Whether we own a home or rent, most of us are affected most by the tax on residential properties so let’s begin there.

 

1. Residential properties include single family, duplex, triplex, condos and residentially zoned vacant land. How many residential properties are there in the MOA?

A. 76,963      

B. 86,963

C. 96,963

 

2. What is the overall change in value on these properties from 2019 to 2020?  

A. Increased by 1.1%

B. Decreased by 2.5%

C. No change

 

3. There is one MOA district where single family homes have had an average decrease in value? Identify that district.  

A. Downtown

B. East Anchorage

C. West Anchorage

 

4. Approximately how many single family homes had a new deed recorded through Dec. 18th in 2019?

A. 2,857     

B. 2,285

C. 3,257     

 

5. Total value by property type is $47 B which includes residential, commercial, personal property.  What percent is residential?

A. 56%   B. 65%    C. 69%

6. However, the TAXABLE value for all properties is only $35 billion. What percentage of that value is residential?

A. 61%   B. 65%   C. 55%

 

7. There are 15 property exemptions mandated by the state of Alaska. Of the ones identified below, which one is not in the top five?

A. Seniors/Disabled Vets

B. Municipality  

C. Federal

D. Education  

 E. Hospital

 

8. What two exemptions by type have the highest dollar amount?

 

9. Are these mandatory state exemptions or optional local exemptions? 

 

10. How many commercial properties (excluding new construction) are there in the MOA?

A. 8,263   

B. 10,777

C. 9,081

11. What was their total value in 2019?

A. $10.7 B    

B. $8.2 B

C. $6.5 B

 

12. Was their taxable value more, less or about the same as their total value?

 

13. Identify the two Alaska boroughs/municipalities that do not have a sales tax.

 

14. In a Nation Wide Comparison published in 2017 by the Government of the District of Columbia, Alaska’s total tax burden, including income, property, sales and auto as a percent of income for a family earning $75,000 per year was what?

A. 4.4%   

B. 9.78%

C. 17.3%   

D. 6.6%

 

15. Alaska’s tax burden is the lowest in the nation.  Given the total shortfall in our projected 2021 state and local budgets, what taxes would you support moving forward?

A. Sales tax     

B. Income tax    

C. Borough/City increase in property taxes

D. Repeal exemptions

 

Answer Key: 1. B   2. A   3. A   4. A   5. A   6. A   7. E   8. A and B   9. Mandatory State Exemptions  10. B   11. A   12. About the same at $10.6 B which means commercial properties do not have the large number of exemptions that residential properties have been given by the state.   13. Fairbanks and Anchorage.   14. A   15. You Decide!