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Kenai Peninsula Borough asks state for authority to cap annual assessment increases at 5%
Summary
Mayor Michicky introduced resolution 2025-017 asking the Alaska Legislature to grant municipalities the option to cap year-over-year assessment increases at 5% to smooth rapid valuation spikes; staff and assembly members debated implementation details and impacts.
The Kenai Peninsula Borough Finance Committee discussed resolution 2025-017, in which the mayor asked the Alaska Legislature to provide municipalities authority to impose a voluntary cap — proposed at 5% — on annual increases in real property tax assessments.
“Things moving too quickly is not good for anyone,” Mayor Michicky said. “A max 5% increase is manageable ... It’ll help people to budget for their future, expenses on paying those property taxes. And frankly, the best part is it's voluntary.”
Adena, who identified herself as an assessing department employee with 15 years’ experience, described the…
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