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Tax Summary
- Alaska is the only state that has no state income tax.
- Most state costs are paid for from petroleum revenues.
- There is also no state sales tax in Alaska, although some municipalities have local taxes of between 1% and 7%.
- Property taxes are determined by individual municipalities based on millages. Less than one in five municipalities in Alaska have any property taxes. Statewide, there is a $150,000 exemption for anyone over the age of 65 and disabled veterans.
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