Assessor reports property value increases; recommends tiered assessment adjustments

Michael Renfro of Appraisal Company of Alaska presented the 2026 property assessment update that will affect the 2027 tax roll. Renfro reported low housing inventory and rising construction costs and said sale‑price analyses showed an overall increase of approximately 4%–6% in values over the last year. Based on sales stratified by value bands, he recommended increasing assessed values for low‑value homes (under $300,000) by 15%, mid range by 8% and upper mid by 3%, with no increase for the highest‑value band. He said the city’s post‑adjustment level of assessment stood at about 89.3% (the state target range is 90–110%).