The Property Tax Process
Property tax amounts are determined by multiplying the assessed value of the property and applicable mill rates. The assessed value is determined by the Assessing Department and Mill Rates (tax rates) are set annually by the Assembly. The Finance Department prepares and mails the property tax statements by July 1st of each year according to the Levy Roll.
Real and personal property taxes over $50 may be paid in halves. The first half is due by August 15th and the second half is due by November 15th. Taxes not paid by August 15th must be paid in full on or before October 15th. If your tax statement is $50 or less, it must be paid in full on or before October 15th.
A payment is considered paid on time only if it is physically received in the cashier's office by the due date or postmarked by the United States Postal Service, not metered machines, prior to midnight on the due date. A 10% penalty will be added to all delinquent taxes. In addition, all delinquent taxes draw interest at the rate of 1% per month or fraction thereof from the date of delinquency until paid in full or until the date of the foreclosure sale.
If your assessment filing form was not filed or was filed late for either aircraft or business personal property, a penalty has been added to the account.
The taxpayer is responsible for identifying each of their accounts and for obtaining all of their tax statements. Failure to receive a tax notice does not relieve the taxpayer from paying their taxes on time.
Over-payments sometimes occur when a property is refinanced, sold, or multiple parties (taxpayer/lender, taxpayer/spouse, title company or closing agent) each submit a payment for the same property. Once the final payments are received and processed for the November 15th due date, the Finance Department will review over-payments and process refunds. The normal processing time for refunds is 2 to 4 weeks.
If you have a question about a possible over-payment of property taxes, or believe a refund is due, please email email@example.com or call the Finance Department at 907-486-9323.
If taxes remain unpaid, the foreclosure process usually begins in January. Per State Statute 29.45.320, a petition for judgment and a certified copy of the foreclosure list for the previous year's delinquent taxes is submitted to the superior court. The foreclosure list is published for four consecutive weeks in a newspaper for general circulation.
If the taxes continue to go unpaid, per State Statue 29.45.400, property owners have a one-year redemption period to redeem properties by paying all taxes, penalties, interest, and other costs. If, after this year, the taxes have not been paid, the Borough, in accordance with State Statute 29.45.460, can retain the property for a public purpose or sell the foreclosed property. Tax foreclosed property is sold via sealed bid and/or public outcry auction.