Assessments rocket, shocking Mat-Su property owners

March 8, 2005

Frontiersman editorial board

Tremors were felt throughout the Mat-Su Borough last week. No, it wasn't a series of earthquakes causing the ground to shake, but rather, many Mat-Su property owners shaking in their shoes as they got the first glimpse of the 2005 assessed value the borough placed on their homes and land.

Some property assessments tripled and many others more than doubled, leaving several Mat-Su property owners wondering how they will be able to pay their tax bills. Overall, the borough's total property valuation rose by about 24 percent.

Senior citizens who have come to count on the tax exemption of the first $150,000 of assessed value to help stretch their limited fixed income may now find it necessary to sell a home they can no longer afford.

And, there is no relief on the immediate horizon for Mat-Su property owners as the real estate market continues to heat up and the borough attracts more and more new residents each year.

Property taxes are the primary source of income for the borough and as we continue to see the huge influx of new residents to our community, increased funding to our schools, roads, emergency services, water, sewer and other basic services will be needed. The borough will have little choice but to recoup the extra money it needs to cover the extra expenses through increased assessments or by raising the mill rate.

A group calling itself Tax Cap Yes has organized to gather enough signatures for a tax cap initiative to be placed on the 2005 general election ballot.

While this initiative would provide needed relief to property owners, it doesn't address where future funding for essential services will come from.

It's past time to implement a boroughwide sales tax, whether it's year-round or seasonal, that would help shoulder the burden Mat-Su property owners have wholly carried thus far.