January 24, 2006
Tuesday AM

Ketchikan, Alaska - A review and analysis of the Ketchikan Gateway Borough's real estate market has mandated adjustments to assessed values, Borough Manger Roy Eckert announced Monday. State Statutes and Borough Code require that assessments be at full and true value as of the January 01, 2006 assessment date.

Reid Building, Location of the Ketchikan Gateway Borough File Photo by Dick Kauffman

Residential property from north Ketchikan city limits to Schoenbar bypass was reappraised for 2006. According to the announcement, the 2006 assessed value will typically be greater than the 2005 assessed value.

Most other Ketchikan residential properties will have upward value adjustments ranging from 10% to 15% overall. Many Commercial/Industrial properties will have overall adjustments of 15%.

Residential properties north and south of Ketchikan will have overall adjustments of about 10%. East Channel area waterfront parcels on Gravina will have overall adjustments up to 25%. East Channel area waterfront parcels on Pennock Island will have overall adjustments to 20%.

The borough is on a four year reappraisal cycle with one cycle being physically reappraised each year. Properties outside the reappraisal cycle receive applicable percentage adjustments.

Real property assessment notices will be mailed on January 25, 2006.

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Ketchikan, Alaska