Property Tax & Income in Fairbanks North Star Borough, Alaska
Fairbanks North Star Borough has an effective property tax rate of 1.19%. On the median home value of $298,200, that's roughly $3,550 per year. Median household income is $88,267.
What you'll pay, at a glance
Property taxes are the largest local tax most homeowners pay. The effective rate measures the real tax bill as a share of home value — a more useful number than the nominal “mill rate,” because assessment practices vary county to county.
| Metric | Fairbanks North Star Borough | Alaska (state context) |
|---|---|---|
| Effective property tax rate1 | 1.19% | 0.69% |
| Median home value1 | $298,200 | — |
| State income tax3 | No state income tax | No state income tax |
| State sales tax3 | 1.82% combined | 1.82% combined |
How this is calculated
The effective property tax rate is the median real-estate tax bill divided by the median home value — both for owner-occupied homes, from the U.S. Census Bureau's American Community Survey (ACS 5-year estimates)1. Median income is also from the ACS1. Federal and state income-tax figures use IRS2 and Tax Foundation3 data.
About Fairbanks North Star Borough, AK
In the Fairbanks North Star Borough, the median annual property tax bill of $3,550 equals about 4.0% of the median household income of $88,267. That relationship matters more than the rate alone: the borough's effective rate of 1.190% outranks 24 of Alaska's 28 counties, placing it fourth statewide, and sits well above both the state median of 0.689% and the national figure of 0.794%. A median home value of $298,200 generates that $3,550 levy, while per-capita income reaches $45,905. Fairbanks anchors the borough, which also includes Eielson Afb and Fort Wainwright. Households here devote a larger slice of earnings to property taxes than most Alaskans do, a direct consequence of the borough's comparatively steep rate applied to local home values.