Politics
Anchorage 2027 Property Tax Mill Rate Cut: Effects on Residential Assessments
The Anchorage Municipal Assembly's budget ordinance lowers the rate applied to assessed values for properties inside city limits starting in the next tax year.
How we reported this
The Anchorage Municipal Assembly adopted the fiscal year 2027 operating budget on July 7 that reduces the general property tax mill rate from 8.5 to 8.0 mills for all taxable real property within municipal boundaries. The adjustment applies to single-family homes, condominiums, and commercial parcels alike and will appear on tax statements issued by the municipal treasury office.
State revenue-sharing payments rose this year, which allowed the assembly to meet its balanced-budget requirement without holding the prior mill rate. The change takes effect for the tax year that begins January 1 2027, after the assessor completes the annual valuation roll.
Calculation changes for property owners
A home assessed at 400000 dollars currently generates 3400 dollars in general property tax. Under the new rate the same parcel would generate 3200 dollars, a difference of 200 dollars per year. Residents in Eagle River and on the Hillside will see the identical per-mill reduction applied to their assessed values once the 2027 notices are mailed in October.
The budget document projects total property-tax collections of 312 million dollars for general government operations, down 12 million dollars from the prior fiscal year. That figure is published in the revenue section of the assembly's adopted budget ordinance 2026-45 and does not include separate levies for the Anchorage School District or service-area road bonds.
Property owners who file for the senior-citizen or disabled-veteran exemption will receive the mill-rate reduction on the taxable portion of their assessed value after the exemption is applied. The treasury division expects to process roughly 18500 exemption renewals before the first-half payment deadline of February 15 2027.
Assessment notices will be posted online through the municipal property-appraisal portal on October 15. Property owners have 30 days to appeal valuations before the board of equalization hearings scheduled for November. Final tax bills will reflect the new mill rate and any adjustments from those appeals.