Alaska Real Estate Transfer Taxes: An In-Depth Guide (2024 Update)

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By Jon Stubbs Updated March 19, 2024

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If you're selling a home in Alaska, you won't owe any real estate transfer tax like you would in most other states. Alaska doesn't charge a transfer tax.

However, Alaska sellers are responsible for other closing costs that average 2.75% of the home price. For the median Alaska home priced at $354,563, that works out to about $9,739.

In addition to these closing costs, you'll have to pay listing agent commission, which averages 3.00% of the home's sale price, or $10,637 on the average home.

Clever Real Estate can help you save on listing commission by partnering you with a listing agent who charges just 1.5% commission. That equals $7,091 in average savings.

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What Are Real Estate Transfer Taxes?

Transfer taxes are yet another expense due before completing a successful real estate transaction. In general, a transfer tax is applied as a percentage of a home’s value during a real estate transaction. These can vary dramatically between locales, and are often subject to negotiation during the offer stage.

In most states where a transfer tax is levied, the seller is usually obligated to pay for the privilege of changing ownership. Of course, the outcome can vary depending on the county you’re buying in, the current condition of the market, and an agent’s aggressiveness during negotiations

Once a purchase agreement is made, whoever has agreed to pay the imposed tax is legally responsible. Depending on the terms, this can be a significant expense to buyers who are already on the hook for substantial closing fees or a seller who is facing slim profit margins after a sale.

Who Pays Transfer Taxes in Alaska: the Buyer or the Seller?

Depending on the state you’re in, there are different requirements regarding if a buyer or seller is obligated to pay and the amount due. In some locations, a statewide jurisdiction may forego a transfer tax — Alaska is one of them.

While Alaskans are free from transfer taxes during the closing, it’s a good idea to work with a real estate expert who is proficient in their local markets. Since fees can also be mandated at a county level, there may be places in Alaska who will charge transfer tax. It’s best to be prepared for every expense that comes up during a property transaction.

Clever Real Estate can help you cut costs here — our concierge team will partner you with an experienced agent who can help you negotiate a good deal with your buyer on transfer taxes. You'll save big by paying only 1.5% in commission, which is much less than the Alaska average of 3.00%.

💰 Find an agent who can negotiate your transfer taxes

You can't change transfer tax rates. But, an experienced Clever Real Estate agent can help you win the negotiation battle so you aren't stuck paying all of the transfer taxes on your own.

When you choose Clever, you'll work with a full-service realtor with transfer tax expertise in your local market.

Clever's service is totally free, with zero obligation — you can walk away at any time.

How Much Are Transfer Taxes in Alaska?

As mentioned prior, Alaska doesn’t legally require a transfer tax, so residents can usually expect their transfer taxes to be zero. Of course, it’s important to ask a professional agent about special circumstances which sometimes arise at a local level.

A local real estate agent who is familiar with their area will inform you of municipalities that may have different requirements than the rest of the state. Their expertise is an immense advantage during the home-buying experience.

Other Considerations

While Alaska doesn’t show any signs of imposing a real estate transfer tax in the near future, remember, policies can always change. Since these fees are subject to local requirements, it may only require a suggestion from a member in legislation to present a change to the law. There are also numerous other tax requirements that you should know before buying or selling a home there.

Stay ahead of the curve of the unique absence of a transfer tax in the state by working with a professional real estate agent during any property transaction. They excel at staying up to date with changes in the laws that affect their clients. Taxes are a necessary part when real estate changes hands, their expertise can ensure your sale or purchase is completed legally and without unexpected costs.

If you’re ready to list or buy a home in Alaska, a Clever Partner Agent is waiting to navigate you through the complex maze of real estate transactions.

» LEARN: Guide to Seller Closing Costs in Utah

Methodology

  • Transfer tax amounts are based on government website information as of February 2024.
  • We gathered our listing commission rate data from a December 2023 survey of 630 of our partner agents.
  • Home values, list prices, and sale prices are based on Zillow data as of March 2024.

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Our experts continually research, evaluate, and monitor real estate companies and industry trends. We update our articles when new information becomes available.

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