Best Tax Attorneys in Anchorage

FAQs

• Where does the Tax Court hold trial sessions closest to Anchorage, Alaska?

  The US Tax Court has no permanent location in Alaska but designates temporary venues with the notice of trial.

• Where is the low-income taxpayer clinic that is closest to Anchorage, Alaska?

  The closest low-income taxpayer clinic to Anchorage is the Alaska Business Development Center at 840 K St., Suite 202, Anchorage, Alaska 99501.

• How much is the personal income tax rate in Anchorage?

  Anchorage follows state laws that do not provide for a personal income tax rate or do not levy taxes against an individual's income. Conversely, the area has a 2% to 9.4% corporate income tax rate. The state also does not impose a statewide sales tax, with local sales tax rates reaching a maximum of 7.5%.

• Is there a way to reduce property taxes in Anchorage?

  One method of lowering the amount of property taxes you pay in Anchorage is by appealing the assessor's valuation of your personal property. Local and state governments provide that factors unrelated to the property's value, such as the current tax rate and personal financial hardship, are not valid reasons to appeal the assessor's property valuation.

• Can you get a refund for the excess taxes paid in Anchorage?

  Yes, you can file a claim for a refund for excess taxes paid and receive that refund after the Anchorage government audits your tax transactions and confirms the excess. This refund has an 8% interest rate and starts counting interest starting from the date of excess payment. Refunds have a statute of limitations one year after the tax's due date.

• In Anchorage, when you file an appeal for your property's valuation, do you still need to pay for that property's taxes?

  Yes. You still need to pay your property tax even if that property in Anchorage has a pending appeal regarding its valuation. If your appeal is successful and the government determines that your property is worth less than what was assessed initially, you will receive a refund for the excess taxes you paid, plus interest.

• Who qualifies for property tax exemptions in Anchorage?

  Anchorage laws provide that senior citizens, disabled veterans, widows or widowers of military personnel, and homeowners who lost at least 50% of their properties to fire are eligible for property tax exemptions. In addition, properties used exclusively for non-profit, religious, cemetery, charitable, healthcare, and educational purposes are exempt from local taxation.