Seniors and disabled vets have a great deal to be worried about the proposed changes in the real property exemption. Since most are on limited income they could end up being taxed out of their homes.
Real estate brokers, assessors and appraisers are again setting values based on the hot, already overpriced, Anchorage real estate market. The demand for special properties by well-off out-of-state buyers mountain view, lake front and river front has made this crew appraise all properties based on this very limited demand.
During the early 1980s, this same crew used Anchorage’s hot prices to value local properties. When the mid-’80s price crash came, most of the buyers of the overpriced properties were ruined financially when they lost their jobs and could not find a buyer for their overpriced home.
The current price appraising has nothing to do with actually cost of construction. Construction costs here are not two to four times similar-sized areas Outside. Yes, it gets colder here, but the Outside house requires expensive central air conditioning as well as modern insulation techniques. Many of the construction crews here work outside during the winter getting about the same pay.
A comparison of two new houses: a 1,840-square-foot no view, no lake front, no river front here and a 1,997-square-foot there. The here house has extras that would add $20,000 to the cost there. The house here has a shop that tackily sits in front on the small lot. The house there has a mountain view. The house here is offered at $475,000 while the house there with the extras is $150,000. A 3-year-old house there with twice the footage, better features, three-car attached to rear garage/shop, larger lot, mountain view, far better style, no tacky shop in front, and a 20 X40 in ground swimming pool is for sale at $370,000.
A couple of drab 1,900-square-foot ranch-style houses here no view, no lake or river front are currently listed at $320,000. This isn’t California!
So seniors and vets if you snooze, you lose, and you could lose it all. Be sure to tell Superman and Germano what you think about their proposal.
All taxpayers should be concerned about the assessing and appraising. Even if the mill rate stays the same, your actual tax bill is jumping. Where does all the money go?
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