# Sitka City And Borough property tax

Published: 15.04.2023

## Example of Sitka City And Borough Property Tax Calculation

Sitka City and Borough calculates property tax based on the assessed value of a property. The assessed value is determined by the Sitka Borough Assessor's office and is based on the fair market value of the property. Once the assessed value is determined, the property tax rate is applied to this value to determine the property tax owed by the homeowner.

For example, if a 10-year-old child's parents own a home in Sitka with an assessed value of \$200,000 and the property tax rate is 2%, the calculation would be:

\$200,000 (assessed value) x 0.02 (tax rate) = \$4,000 (property tax owed)

It's important to note that property tax rates can vary depending on the location and jurisdiction. It's always a good idea to check with the local government for the most accurate property tax information.

If you want appeal your property tax assessment - contact your local tax assessor.

## Sitka City And Borough Property Tax Rates

Here is the table listing the Sitka City and Borough Property Tax rates:

Tax Rate per \$100 of Assessed Value
General Property Tax \$6.60
Special Assessments Varies

The General Property Tax rate for Sitka City and Borough is \$6.60 per \$100 of assessed value. This rate applies to all taxable real and personal property within the borough.

In addition to the general property tax, there may be special assessments levied on certain properties in Sitka. The rate for these assessments varies depending on the specific project or improvement being funded.

Overall, Sitka City and Borough property owners can expect to pay a moderate property tax rate compared to other areas in the United States.

## Who sets property tax rates in Sitka City And Borough ?

In Sitka City and Borough, property tax rates are set by the Sitka Assembly, which is the governing body of the city and borough. They do this annually during the budget process, which typically takes place in the fall of each year.

The property tax rate is calculated by dividing the amount of revenue needed to fund the city and borough's budget by the total assessed value of all taxable property in Sitka. This rate is then applied to the assessed value of each individual property to determine the amount of property tax owed.

It's important to note that property tax rates can vary depending on factors such as the type of property (residential, commercial, etc.), location, and any special assessments or exemptions that may apply. Property owners in Sitka can contact the borough's finance department for more information on property tax rates and how they are calculated.

## Homestead exemptions in Sitka City And Borough ?

Here is a table with columns for exemption, eligibility, amount, and notes that includes all county specific Homestead exemptions and deductions in Sitka City And Borough in Alaska:

Exemption Eligibility Amount Notes
Regular Homestead Exemption Any resident \$20,000 Applies to the assessed value of the property
Senior Citizen/Disabled Veteran Exemption Any resident over 65 or disabled veteran \$50,000 Applies to the assessed value of the property
Disabled Veteran Exemption Disabled veteran with 50% or greater service-connected disability \$150,000 Applies to the assessed value of the property
Additional Exemption for Service in a Combat Zone Any resident who served in a combat zone \$10,000 Applies to the assessed value of the property
Residential Property Tax Exemption Any resident who owns and occupies their primary residence 20% reduction in taxes Applies to the assessed value of the property

It is important to note that these exemptions and deductions are specific to Sitka City and Borough in Alaska. Eligibility and amounts may vary in other counties or states. Residents should consult with their local government or a tax professional for more information on Homestead exemptions and deductions.

## When is Sitka City And Borough Property Tax due ?

Sitka City and Borough Property Tax is typically due on October 15th of each year. Property owners can make their payments through various methods such as:

Payment Method Description
Online Payment Property owners can make their tax payments online through the Sitka City and Borough website.
Mail Property owners can mail their tax payments to the Sitka City and Borough Finance Department at the address provided on their tax statement.
In-Person Property owners can make their tax payments in person at the Sitka City and Borough Finance Department during business hours.
Automatic Withdrawal Property owners can enroll in the automatic withdrawal program to have their tax payments automatically deducted from their bank account each year.

It is important for property owners to make their tax payments on time to avoid late fees and penalties. If a property owner is unable to make their payment by the due date, they should contact the Sitka City and Borough Finance Department to discuss payment options and potential penalty fees.

If you have more questions - contact your local tax collector.

## How is Sitka City And Borough Property Tax penalty calculated ?

Sitka City And Borough calculates the Property Tax penalty based on the assessed value of the property and the number of days the payment is late. The penalty is calculated as a percentage of the unpaid taxes.

Here's an example to illustrate how the penalty is calculated:

Let's say the assessed value of a property in Sitka City And Borough is \$200,000 and the Property Tax rate is 2%. The total Property Tax due would be \$4,000 (\$200,000 x 2%).

If the property owner fails to pay the Property Tax by the due date, a penalty will be applied. The penalty rate in Sitka City And Borough is 10% per annum.

If the property owner pays the Property Tax 30 days late, the penalty would be calculated as follows:

Unpaid taxes: \$4,000 Penalty rate: 10% per annum Number of days late: 30 Penalty amount: (\$4,000 x 10% x 30 days) / 365 days = \$32.88

Therefore, the total amount due would be \$4,032.88 (\$4,000 + \$32.88).

It's important to note that the penalty increases as the number of days late increases. If the property owner fails to pay the Property Tax for an extended period of time, the penalty can become significant.

In summary, Sitka City And Borough calculates the Property Tax penalty based on the assessed value of the property, the Property Tax rate, and the number of days the payment is late. As a property owner, it's important to pay the Property Tax on time to avoid penalties and additional fees.

We recommend contacting the Sitka City And Borough Tax Office or a local tax professional for the most up-to-date and accurate information.

#### Sitka City And Borough tax offices:

Bio: Michael is a civil servant based in the United States with a deep understanding of property tax. He uses his expertise to educate homeowners and investors on the intricacies of the property tax system through his blog. Michael believes in empowering his readers with knowledge to make informed decisions about their property taxes. When he's not working, Michael enjoys hiking and exploring the great outdoors.