Borough assessor says appraised value tops $20 billion; average single‑family appraisal up about 5%

Borough acting assessor Art Golden told the Matanuska-Susitna Borough Assembly on Jan. 21 that the boroughs appraised value reached $20,000,000,000 for the first time and that average appraised single‑family values rose 5.08% to about $388,091.

Golden said the 2025 numbers reflect 768 single‑family new construction units, 127 multifamily units and 68 commercial projects captured in 2024 and reported on the boroughs January 1 valuation date. The assessors office said appraised values rose 6.8% year‑over‑year while taxable (assessed) values rose 8.3% as exemptions changed the taxable base.

Why it matters: the appraised and assessed values set the base for tax notices and influence property tax bills, and changes often prompt calls and appeals from property owners. Golden advised assembly members to expect constituent phone calls after notices are mailed and described the appeal process.

Golden summarized key points: "The borough has now reached a value of $20,000,000,000 for the first time," and he told the assembly the average single‑family appraised value was $388,091. He described the office's approach to equity in valuation and said appraisers spent significant time in the field verifying property condition.

The assessors office reported 508 public contacts in the last year, 96 formal appeals filed and 22 hearings held by the Board of Equalization; six hearings resulted in adjustments. Finance and legal staff explained that many appeals are resolved informally before a hearing and that the Board of Equalization hears only those property owners who request a hearing.

Assembly members asked how the office counts new construction and whether the 2025 numbers actually reflect structures built in 2024; Golden said the report counts structures captured in the offices inventory work during 2024 and that the January 1 valuation date applies. He also told members that the assessors office uses borough properties as the modeling dataset for valuations rather than drawing comparables from other markets. Finance staff confirmed the assessment notices are scheduled to mail Jan. 29 and the 30‑day informal appeal period runs Jan. 30 through Feb. 28.

Several assembly members pressed staff about appeal outcomes and the Board of Equalization process. The borough attorney and the finance director explained that many appeals are withdrawn after the appraisers and property owners reach agreement before a hearing. If an owner proceeds to a hearing and the BOE declines relief, the owner may pursue a court challenge afterward; borough counsel said the borough defends valuations in court when that occurs.

The assessor and finance director recommended that property owners call the assessors office when they receive notices to resolve inventory or clerical differences that can often be corrected without a formal appeal.

Ending: Golden and finance staff said they will provide more detailed maps and data on appeals and valuation drivers if assembly members want follow‑up; Golden invited members and constituents to call the assessors office with questions once assessments are posted.