2023 CBJ Property Assessments Continue to Reflect Aggressive Juneau Real Estate Market
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~ On Friday, March 3, the City and Borough of Juneau (CBJ) sent out 2023 property assessment notices to Juneau property owners. The assessments are the Assessor's determination of the fair market value of each property as of January 1, 2023.

The assessments reflect a steep increase in residential property values, with an average increase of 16% over the last year. This is due to a high demand for homes, low supply of new homes, and rapidly rising building costs. The increases range from 10% in the Casey Shattuck (Flats) neighborhood to 21% in the Juneau Townsite (Downtown) and Northeast Valley neighborhoods.

Commercial properties saw a more moderate increase in value, with an overall 6% increase from 2022 to 2023. Sales information continues to be a challenge for commercial assessments; CBJ has confirmed sales information on only 29 out of 52 recorded market transactions in 2022.

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Property taxes are calculated by multiplying your assessed value with the millage rate set by the Juneau Assembly each year. Until then, no one knows exactly what their individual property tax bill will look like.

If you think your property was inaccurately assessed, you must file a petition for review by Thursday, April 3 at 4:30 p.m. Staff are available to assist you in any way to ensure your petition is filed and received; download the petition for review form online or visit juneau.org/finance/assessor-forms for more information.

The CBJ Assessor Office encourages all Juneau property owners to review their assessment notices carefully and contact them at (907) 586-5215 or Assessor.Office@juneau.org if they have any questions or concerns about their valuation. The online Assessor's Database is currently being updated and should be complete by end of day Monday, March 6th with 2023 values reflected on all parcels.

Filed Under: Government, City

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