|Ballot Measure #2 (the $50k Residential Exemption)|...
Ballot Measure #2 (the $50k Residential Exemption) which was approved by voters, does not go into effect until the 2018 Tax Roll. You can read Ordinance here
The Assessing Department is responsible for assessing the value of all
properties within the Fairbanks North Star Borough 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 property descriptions.
Assessing has two primary missions;
1.Administer a property assessment that is fair, uniform, and equitable by employing the following eight procedures:
- Locate and identify all taxable property within each taxing jurisdiction
- Inventory the quantity, quality, and important characteristics of all taxable property
- Accurately estimate the market value of each taxable property
- Determine the extent of tax ability of each property
- Calculate the taxable value(s) for each property
- Timely notify the owner(s) of the assessed value
- Respond to inquiries regarding methods and values; Governing Laws and Regulations
- Prepare and certify the official assessment roll of the entire Borough
2.Provide up-to-date information about assessment and related property matters,
a service grown in importance to the community over the years.