Anchorage Assembly reviews 2025 property appraisal report; appeal deadline set for Feb. 12

Anchorage Assessor Jack Grama presented the Anchorage Municipality 2025 property appraisal annual evaluation report to the Anchorage Assembly at a Jan. 10 work session, reviewing the municipality's valuation totals, exemptions, recent valuation trends and the timeline for valuation notices and appeals.

The report put Anchorage's total gross assessed value at about $57.3 billion and the taxable base, after exemptions, at roughly $42.3 billion. Grama said the municipality administers exemptions year-round and values property as required by state law, noting that Jan. 1 is the statutory valuation date that triggers the annual schedule and the appeals window.

Why it matters: Changes in assessed values affect the taxable base used to set mill rates and can shift tax burdens among property classes. The Assembly's questions at the session focused on which property classes are driving recent changes, how exemptions affect tax liability, condo valuation adjustments and the handling of personal property such as inventory at new distribution facilities.

Key findings and figures

- Total assessed value and taxable base: Grama reported a total assessed value of about $57.3 billion and a taxable base near $42.3 billion after roughly $14.9 billion in exemptions. He described residential property as the largest share of the tax base.

- Tax base composition: Residential property accounted for about 65.8 percent of the tax base, commercial about 26.3 percent and personal property about 8 percent, according to the presentation.

- Major exemptions: The presentation listed roughly $3.2 billion in state-mandated exemptions for the senior/disabled veteran category (the $150,000…