Total property values in Petersburg Borough increased by more than $30.7 million in the latest assessment cycle, representing roughly 4% growth from last year, with borough-wide assessments reaching $795.5 million, according to a recent report from the borough's assessors.
The annual assessment, required by state law, indicates that "the overall market continues to grow despite the high cost of living and rising interest rates," wrote assessors Mike Renfro and Martins Onskulis of the Appraisal Company of Alaska.
This year's adjustments in Petersburg primarily affect land values, which increase...
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