Property Assessments Go Up
As Much As 35%
January 19, 2007
Ketchikan, Alaska - Ketchikan Gateway Borough real property assessment
notices were mailed on January 17th according to Dennis Finegan,
KGB Director of Assessment. In a news release, Finegan stated,
"A review and analysis of the real estate market has mandated
adjustments to assessed values." He said State Statutes
and Borough Code require that assessments be at full and true
value as of the January 01, 2007 assessment date.
Finegan said the reappraisal area for 2007 included Ketchikan
residential property from the tunnel/Schoenbar bypass to south
Ketchikan city limits and all property from South Ketchikan City
limits to the south end of the road - except Saxman residential.
George Inlet and Dall Head areas were also reappraised.
"The 2007 assessed value
in reappraisal areas will typically have substantial increases
over the 2006 assessment level," said Finegan.
"Most City of Ketchikan residential properties that were
not reappraised will have upward value adjustments ranging up
to 15%. Some condominiums will be returning to 1999 value levels
with adjustments up to 35%. Commercial and industrial parcels
in the City of Ketchikan will receive adjustments ranging up
to 25%," said Finegan.
Finegan said, "Residential properties north of Ketchikan
city limits will have overall adjustments ranging up to 15%.
Clover Pass, Moser Bay and Loring areas will receive land adjustments
up to 20%. "
The Ketchikan borough is on a four year reappraisal cycle with
one cycle being physically reappraised each year said Finegan.
Properties outside the reappraisal cycle will receive applicable
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