What is Real Property?
Real property means land and improvements, all possessory rights and privileges appurtenant to the
property, and includes personal property affixed to the land or improvements (AS 29.71.800).
Real property is to be assessed at 100% of its full and true value (AS 29.45.110).
The status of all property, for valuation and taxation, is determined as of January 1 of the assessment year.
Pro-ration of taxes or partial year assessment is not allowed under the current law.
Real Property assessment notices are mailed end of January. This notice will advise you of your current year
valuation. If, after discussing the assessed value(s) with a staff appraiser you believe that the valuation is excessive, improper, or unequal, your recourse is to file a formal appeal. Your appeal must be filed with the
Borough Assessor no later than 30 days from the mailing date of this notice. Notice will be given to
appellants of scheduled day and time for hearing.
No one is ever expected to pay more than their fair share in taxes. Likewise, if you or your property qualify for an exemption, every effort is made to see that you are not paying taxes unnecessarily. There are several exemption programs administered through the Assessing Department as listed below:
- Senior Citizens 65 years of age or older
- Widow/Widower's Senior Exemption program
- Disabled Veterans with a 50% or more disability
- Military non-resident personnel residing in a mobile home
- Farm Use Lands actively engaged in agriculture
- 2% exemption for approved fire protection systems - Fire Exemption Form
- Application for $10,000 exemption for those providing Firefighting or Emergency
Medical Services to the FNSB
- Property used exclusively for religious, charitable, cemetery, hospital or educational
purposes - Real Property Exemption Form
- Owner-occupied partial residential exemption - ( see below for Residential Property
Tax Exemption information)
RESIDENTIAL PROPERTY TAX EXEMPTION
20% OR $20,000.00 ($10,000 for Service Area Tax), whichever is less, may be deducted from your residential valuation. The exemption applies only to the residential portion of the property. You are entitled to this partial exemption on your property if:
- You own and occupy all or part of the property as your residence
- There are no past taxes, penalty, or interest due
- You sign and return the assessment notice to the office by March 31st
If you have filed for a partial property tax exemption in 1983 or later, have not been delinquent, have not subdivided, have not changed record owner name, and still reside at this residence, you need not file again. Please do not hesitate to call if you have any questions regarding the status of your exemption.
You will find the form for this exemption on the bottom half of your Assessment Notice that is mailed out the end of January each year.