Anchorage homeowners saw a jump in property values in 2022 assessments. It’s not yet clear how that will affect individual property tax bills, city officials say.
Sunlight illuminates homes on the Anchorage Hillside nestled below the Chugach Mountains on Monday, Jan. 24, 2022.
That increase is due to the rising value of residential properties, he said. On average, commercial property values such as for retail, office and hotel buildings largely decreased, though four-plexes and apartments slightly increased in value. With so many buyers in the market, so few new houses being built and limited homes for sale, sale prices have increased, with some houses selling for far more than the asking price, the assessor’s office said.
Most neighborhoods saw an increase in home values in the 8% to 10% range. An increase above 20% or 25% is the most extreme jump that an area or group of homes should have seen, the assessor’s office said. Until the Anchorage Assembly sets the property tax rate in April and finishes adjustments to the year’s city budget, no one will know exactly what their individual property tax bill will look like. The tax rate changes yearly, depending on property values in Anchorage and the size of the city’s budget.
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