How Property Tax Works
Wrangell County's property tax system serves as a crucial funding mechanism for local government services, including public safety, infrastructure maintenance, and administrative operations. With a budgeted expenditure of $14 million for FY24 and economic output of $433.2 million in 2022, property taxes help bridge the gap alongside other revenue sources like the $985.3K PILT (Payment in Lieu of Taxes) payment that covers 7% of the county's budget.
Property owners in Wrangell County can expect varying tax rates depending on their specific location within the county, as additional special taxing districts may apply beyond the base county levy. The county has experienced positive economic indicators recently, with a 7.2% GDP increase from 2020-2022 and home values rising 5.7% from October 2023 to October 2024, which may impact future assessed valuations and corresponding tax obligations.