Annual Assessment Revaluation – January 1, 2016:
Taxable property located within the borough has been valued and assessment notices were mailed March 15th. The resulting increase in overall assessed values was 2.8% for both real and personal property. This increase breaks down as a 2.5% increase in real property values, and a 9.3% increase in personal property values. Market factors and assessment system limitations are the two main reasons for these increases.
Sitka experienced a 7.9% overall increase in single family residential median sales prices during 2015. There were 185 total sales, an increase of about 4% over last year, so sales volume continues to be steady. Sixty-three percent of those sales were disclosed to the Assessing Department, leaving 47% of relevant market data unavailable for valuation purposes. A good percentage of Sitka’s sales are never marketed and 20% are cash transactions. All of these factors combined leave holes in the data available to the Assessor for valuation analysis, and can have an effect on the accuracy of assessed values. Despite these challenges the following facts were gleaned from the sales information we do have on file, and are provided for reference:
Please click here to read the full Assessment Revaluation Report 2016
Assessment Review – March 15th-April 15th:
The Assessing Department will continue to offer property owners the ability to review assessments, discuss property details, or secure information about the valuation methodology during the informal review period of March 15th to April 15th. We encourage you to visit our office during this time and review our sales file for comparable properties when reviewing your assessment. If you are seeking a value adjustment, information required for this request will be a recent HUD statement and accompanying appraisal, or recent comparable sales to support your point of view.
Personal property consists of boats, airplanes, machinery & equipment and is handled a little differently. Because it is movable and can be proprietary in nature, state and local law places responsibility on the property owner to report its ownership annually. Therefore, it is important for you to inventory and report any changes in your personal property holdings every year by February 15th; failure to do so will result in a $100 failure to file fee. This fee has been in place since 2013 and will not be waived by the Assessing Department. Your personal property assessment is appealable through both the formal and informal review process, but the failure to file fee is not.
The Assessing department is responsible for assessing the value of all properties within the City and Borough of Sitka boundaries; and administers all State and Borough exemptions as set forth in State Statutes and Borough Code. The department also maintains property records information, which includes ownership, address, assessed value, and legal property descriptions.
Assessing has two primary missions:
Provide up-to-date information about assessment and related property matters, a service grown in importance to the community over the years.
8:00 a.m. - 5:00 p.m. Monday - Friday (excluding holidays)
City & Borough of Sitka
100 Lincoln St, Room 108
Sitka, AK 99835
Department e-mail address: email@example.com
Wendy J. Lawrence, ACAA III - Assessing Director
Ruth Joens - Administrative Assistant
Josh Joseph - Appraiser I