Something has to be done about how the municipality determines property value for tax assessment purposes. They increased the assessed value of my property by $20,000 this year. That makes my condo’s assessed value nearly $130,000. That is ridiculous! It isn’t even worth $90,000 on the open market.
When I emailed the assessor’s office that a unit sold in my complex for under $90,000, they shrugged it off, saying that isn’t sufficient evidence of the worth of our condos. I tell you the best way to determine the worth: When a property sells, make it legally mandatory that the actual amount it sold for should be reported to the state and municipality. Right now, it is on a volunteer basis whether a new homeowner wants to report what their property sold for.
This means they are assessing the value of our properties based on — what? Not on actual facts of what they sold for? It is a sham! The state/municipality should do what is fiscally prudent, making it so that the actual amount is reported, and our property taxed assessed accordingly; instead of by some arbitrary formula. They’re going to tax me right out of my home.
— Steven Bell
Anchorage
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