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Board upholds assessor’s valuation for 853 Fault Line fourplex despite appellant’s sale price claim
Summary
The Board of Equalization upheld the assessor’s 2025 valuation for a recently purchased unfinished fourplex at 853 Fault Line, rejecting the appellant’s argument that his 2024 purchase price should set the assessed value.
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…
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