How do I handle property taxes on my mortgage in Alaska?

@frida_kohler 

Handling property taxes on your mortgage in Alaska involves a few steps. Here's a general process to help you understand how to handle this:

1. Determine the property tax due dates: Find out when the property tax payments are due in Alaska. Typically, property taxes are due once or twice a year, depending on local regulations.
2. Contact your lender: Reach out to your mortgage lender and ask them if they escrow your property taxes. Escrowing means that your mortgage lender collects a portion of your monthly mortgage payment to cover property taxes and insurance on your behalf.
3. Confirm your escrow account: If your mortgage lender does escrow property taxes, ensure that you have an escrow account with them. The lender will set aside a portion of your monthly mortgage payment to cover the property tax bill when it comes due.
4. Estimate your property tax: Determine the annual property tax amount for your property in Alaska. You can often find this information on your property tax statement or by contacting the local tax assessor's office.
5. Verify your tax bill payment: When you receive your property tax bill, review it to confirm that the amount matches your estimated tax. Ensure that the lender has enough funds in the escrow account to cover the payment.
6. Pay via escrow: If you have an escrow account, the lender will take care of paying your property taxes to the local tax assessor's office.
7. Paying on your own: However, if you don't have an escrow account, you'll need to pay the property taxes on your own. You can typically pay online, in person, or by mail. Contact the local tax assessor's office to understand the available payment options and deadlines.
8. Monitor your escrow account: Even if you have an escrow account, it's essential to check it periodically to ensure there are sufficient funds available. If there is a shortfall, you'll need to cover the remaining amount yourself.

Remember, property tax laws and regulations can vary within Alaska, so it's advisable to consult local resources, such as the Alaska Department of Revenue or a tax professional, for specific information related to your location.