The Fairbanks North Star Borough Board of Equalization on May 2 upheld the assessor’s 2025 valuation for 853 Fault Line Avenue, a dry fourplex purchased by appellant Sam Moore in April 2024, after hearing competing testimony about whether the purchase price or the assessor’s model should control the assessment.

Moore, identified in the record as the owner of SGM Properties LLC, told the board he purchased the property for $70,000 in April 2024 and argued that the sale should be "the most reliable indicator of value" under "Alaska statute 29 45 1 10." "The only sale that is valid in this appeal is the one at 853 Fault Line Avenue for $70,000, period," Moore said in his presentation.

The assessor’s appraiser, Matt Casort, described the property’s condition and the assessor’s methodology. Casort said the structure had been inspected and three units were occupiable while a fourth remained unfinished at the January 1 valuation date; he also said the assessor applied a roughly 20% discount for the lack of water and could not complete a cost or income approach without the owner’s cost or income records. "All 3 approaches to value were considered due to the appeal being filed," Casort said, adding that the cost and income approaches were not completed for lack of sufficient information.

Board members discussed whether the property’s condition at the January 1 lien date and subsequent finishing work should affect the 2025 assessment. The board accepted the assessor’s expert testimony that the property was properly valued using the assessor’s methods and noted the appraisal adjustments applied for incompleteness and absence of water service.

Board Member Fouldeau moved to uphold the assessor’s value: land $7,328; improvements $184,390; total $191,718. The motion was seconded and passed unanimously, 5–0.

Why it matters: The ruling underscores the board’s deference to assessor methodology where the assessor demonstrates use of recognized appraisal standards, and shows that a post‑purchase change in occupancy or completion status does not automatically override the assessor’s valuation for the lien date.