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Kenai Peninsula Borough mayor asks Alaska Legislature to let municipalities cap year-to-year property assessment increases
Summary
The borough’s mayor told the legislative committee that sharp valuation spikes have strained residents and urged the Assembly to request state permission under Title 29 to allow a 5% (or higher) cap on annual assessment increases; the committee pulled the item from the consent agenda for fuller debate at the evening assembly meeting.
Mayor Michicky asked the Kenai Peninsula Borough Assembly’s legislative committee on Monday to back Resolution 25-046, a request that the Alaska Legislature allow municipalities under Title 29 to cap year-to-year increases in the full and true value of real property.
The mayor told the committee the borough recently experienced “a 34% over 3 year increase in valuations,” and said that sudden spikes in valuations — even when mill rates remain steady — create acute hardship for residents on fixed incomes. “This is about permission,” she said, arguing the resolution would give local officials the option to draft an ordinance that could limit annual valuation increases to around 5% so the…
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