REAL PROPERTY: Real property consists of the land and everything placed on the land; these are called improvements and may be such things as: houses, mobile homes, outbuildings, barns, sheds, etc. These improvements are valued by the appraiser. This is a year-round function of the Assessor's office.

ASSESSMENT NOTICES: Real Property assessment notices are mailed March 1 each year.  This notice will advise you of your current year valuation and as well as any amount that is exempted. If you do not agree with the valuation, you have 30 days in which to file a written appeal to the Board of Equalization. Prior to filing a formal appeal, property owners are encouraged to first speak to a member of the appraisal staff. Many times an adjustment can be reached before an appeal is necessary. State Statutes and Kenai Peninsula Borough Code require property to be assessed at its full and true value as of January 1 of each assessment year.

TAX PAYMENTS: Taxes are payable when billed. The tax bills are mailed July1 and are due in full on or before October 15. At the option of the taxpayer, taxes may be paid in two equal installments. If the taxpayer elects this option, the first one-half of the taxes must be paid on or before September 15. The second one-half taxes then becomes due on or before November 15 and becomes delinquent thereafter. If the first one-half of the taxes is not paid by September 15th, payment of the taxes in full becomes due on or before October 15.

EXEMPTIONS & DEFERMENTS The Kenai Peninsula Borough has various property tax exemptions and deferments that are available to its residents. Exemptions are available on a single parcel of real property owned and occupied as the primary residence and permanent place of abode by a resident for at least 185 days per year. 

Residential Exemptions are AUTOMATICALLY REMOVED from a parcel when the Assessing Department receives notice of a change of address outside the borough.

$50,000 EXEMPTION for the owner (resident) of a permanent place of abode. This includes mobile homes. The $50,000 is subtracted from the assessed valuation before borough taxes are calculated. Applications are due before JANUARY 15 of each year. Once an exemption has been approved, the owners of record will not be required to file an updated application each year as long as the owner meets the occupancy requirement. It is the owner's responsibility to notify the Assessor if they are renting the property or no longer meet the occupancy requirement. Should there be absence due to medical reasons, the exemption may be granted by providing satisfactory evidence to the Assessor.

APPLICATION FOR $50,000 EXEMPTION

SENIOR CITIZEN EXEMPTION: Up to $300,000 of assessed value for the primary residence of a Senior Citizen may be exempted. To qualify, the applicant must be age 65 or older (or surviving spouse age 60 or older), own and occupy the property as their primary residence and permanent place of abode, and must also qualify for an Alaska Permanent Fund Dividend. Applications are due by MARCH 31 of the year being applied for. This exemption is a one time filing.

City tax will still be calculated on assessed values in excess of $150,000 for parcels located within the boundaries of Homer, Kenai, Seldovia, Seward, or Soldotna.

Exemptions are AUTOMATICALLY REMOVED from a parcel when the Assessing Department receives notice of a change of address outside the borough.

APPLICATION FOR SENIOR CITIZEN EXEMPTION

DISABLED VETERANS EXEMPTION: The Disabled Veteran Exemption is available for residential real property owned and occupied by a resident who is a disabled veteran with a 50% or more service connected disability. Applications are due by MARCH 31 of the year being applied for. This exemption is a one-time filing. However, each applicant must submit a current VA letter, confirming their disability rating each year. Evidence of the disability rating must be submitted prior to application approval. If an updated letter is not received each year, the exemption will be removed.

City tax will still be calculated on assessed values in excess of $150,000 for parcels located within the boundaries of Homer, Kenai, Seldovia, or Seward.

Exemptions are AUTOMATICALLY REMOVED from a parcel when the Assessing Department receives notice of a change of address outside the borough.

APPLICATION FOR DISABLED VETERAN EXEMPTION

DISABLED RESIDENT EXEMPTION (Applied as a Tax Credit): A resident who has been determined, in writing, to be totally disabled by the administrator, board or other appropriate authority of the U. S. Social Security Program, Federal Civil Service System, Postal Employees Retirement System, Civil Service Retirement System, or any State Public Employees Retirement System can receive up to $500 tax exemption per year. This exemption must be applied for each year and is due by JANUARY 15. Renewal application forms are mailed to all previous filers in NOVEMBER of each year. A letter verifying disability status must accompany all applications for Disabled Resident Exemption.

APPLICATION FOR DISABLED RESIDENT EXEMPTION

VOLUNTEER FIREFIGHTER - EMS PROVIDE EXEMPTION: A resident who is an active volunteer providing firefighting or emergency medical services in the borough can receive an additional $10,000 exemption (maximum of 2 per household). This exemption must be applied for each year and is due by JANUARY 15TH. Renewal application forms are mailed to all previous filers in NOVEMBER of each year. The Fire Chief of the volunteer agency must verify the active status of each applicant.

VOLUNTEER FF-EMS APPLICATION

FARM DEFERMENT: This allows the Assessor to value the land at a farm value. In order to qualify, the applicant must be actively engaged in farming the land, and/or the raising and breeding of livestock. At least 10% of yearly gross income must come from the farm use land. Application must be made every year on or before MAY 15.

FARM DEFERMENT APPLICATION

CONSERVATION EASEMENT: Land on which a conservation easement has been granted in perpetuity to a qualifying non-profit agency or corporation. Land will be assessed at the full and true value remaining after the easement take. Applications must be filed with the assessor before May 15 each year in which the assessment is desired.

CONSERVATION EASEMENT APPLICATION

Mill Rates are set annually by the Borough Assembly, Municipalities and Service Areas Boards.    A mill is simply a thousandth of a dollar (1/1000 of $1 and represents one dollar of tax for each 1,000 dollars of taxable assessed value.  

Properties are assigned a Tax Authority Group (TAG).    The TAG identifies those taxing authorities and their corresponding mill rates.  

Example:           123 Example Street – located in TAG 58

2024 Mill Rates

Historical Mill Rates by TAG.pdf