Your 2026 Property Tax Assessment Just Arrived — Here's What Commercial Property Owners in Alaska Need to Know

If you're a commercial property owner in Anchorage, Palmer, or Wasilla and your jaw dropped when you opened this year's property tax assessment notice, you're not alone. Across Southcentral Alaska, property owners are reporting significant increases in assessed values for 2026 — and the clock is already ticking on your right to appeal.

In the Municipality of Anchorage, commercial property values reportedly increased an average of 7.7% this year, with some individual properties seeing adjustments well above that. In the Wasilla and Palmer areas, the Matanuska-Susitna Borough is working to correct decades of undervaluation. Some property owners have reported increases of 30% to 50% on individual commercial properties.

These aren't small numbers — and for commercial property owners, even a modest overvaluation can translate to thousands of dollars in excess property taxes every year. The good news: you have the right to appeal, and a strong case backed by solid evidence can result in meaningful tax savings.

Why Are Commercial Property Assessments So High This Year?

Several factors are driving the increases across both jurisdictions:

• Methodology changes in Anchorage. The Municipality consolidated its geographic market areas from roughly 400 down to fewer than 20 and simplified its construction quality ratings. Properties previously rated with a "minus" quality designation saw upward pressure, while the broader neighborhood groupings shifted values for some commercial parcels significantly.​

• Market correction in Mat-Su. The Borough is in the first year of a six-year plan to bring assessed values in line with actual market prices. A recent study found that some properties in the Borough were assessed at roughly half their actual market value, or more in some areas. A 15% blanket increase on land is the first step in that correction.

• Strong demand for commercial real estate. Continued pressure from Anchorage buyers moving into the Mat-Su Valley, combined with limited developable land, has pushed commercial and land values upward across the region.​

It's important to note: a higher assessed value does not automatically mean a proportional increase in your tax bill. Both the Municipality of Anchorage and the Mat-Su Borough set their mill rates during the annual budget process, and officials in both jurisdictions have signaled they may lower mill rates to offset some of the valuation increases. However, you shouldn't count on that — protecting your assessed value through a timely appeal is the most direct way to control your property tax exposure.

Key Deadlines for Filing a Property Tax Appeal in Alaska

Missing the deadline means losing your right to appeal for the entire year. Here's what you need to know for each jurisdiction:

	Municipality of Anchorage	Matanuska-Susitna Borough
Assessment notices mailed	Week of January 12, 2026 ​	January 29, 2026 ​
Appeal deadline	February 11, 2026 ​	February 27, 2026 ​
Evidence submission deadline	45 days from mailing date (30 days to file + 15 days for evidence) ​	15 days after close of appeal period ​
Board of Equalization hearings	Late March – early April through early June ​	Spring (schedule set after appeal period closes) ​
Contact	(907) 343-6500 ​	(907) 861-8642 ​

Anchorage commercial property owners: your deadline is February 11, 2026 — just days away. If you haven't already taken action, now is the time.​

Mat-Su Borough property owners in Palmer and Wasilla: your deadline is February 27, 2026.​

Grounds for a Commercial Property Tax Appeal in Alaska

You can't appeal simply because you think your taxes are too high or because your value changed dramatically from last year. Under Alaska Statute 29.45.210, the only grounds for a valuation adjustment are:

• Excessive valuation — Your property's assessed value exceeds its fair market value as of January 1, 2026.

• Unequal valuation — Your property is assessed at a higher value relative to comparable commercial properties in the area.

• Improper valuation — The assessor used incorrect data, such as wrong square footage, incorrect building classification, or outdated property characteristics.

• Undervaluation — Your property is assessed below market value (rare, but technically valid grounds).

For commercial properties specifically, the most common and successful grounds involve demonstrating that the assessor's value exceeds what the market actually supports — using comparable sales data, income approach analysis, or evidence of factual errors in the property record.

Tips for a Successful Commercial Property Tax Assessment Appeal

Whether you're filing in Anchorage or the Mat-Su Borough, these strategies will strengthen your case:

1. Start With an Informal Review

Both jurisdictions strongly encourage property owners to contact the assessor's office before filing a formal appeal. In Anchorage, approximately 75% of appeals are resolved through informal negotiation without ever going to a Board of Equalization hearing. In Mat-Su, the Borough assessor has echoed the same advice: "Call our office first before you file the appeal, because we can resolve a lot of issues before even having to file that appeal". An informal conversation can uncover data errors, clarify methodology, and sometimes result in an adjustment without the cost and time of a formal process.

2. Check Your Property Record for Errors

Pull up your property record online and verify every detail. Common errors on commercial property records include:​

• Incorrect square footage or building dimensions

• Wrong building classification or property use code

• Inaccurate number of units, suites, or rentable area

• Outdated condition ratings that don't reflect deferred maintenance or physical deterioration

• Missing information about environmental issues, easements, or access limitations

A factual error is often the fastest path to a correction, because it's objective and difficult for the assessor to dispute.

3. Gather Comparable Sales Data

Recent arms-length sales of similar commercial properties in your area are the gold standard of appeal evidence. When selecting comparables:​

• Focus on sales within the last 12–24 months and within your market area

• Choose properties with similar use (office, retail, industrial, multi-family)

• Adjust for differences in size, age, condition, and location

• Include the parcel number, address, sale date, and sale price for each comparable​

Alaska is a non-disclosure state, meaning sale prices are not publicly recorded. This makes working with a commercial real estate professional who has access to market data and transaction records especially valuable.​

4. Use the Income Approach for Income-Producing Properties

For commercial properties that generate rental income, the income approach to value is often the most persuasive method in an appeal. Gather the following:

• Three to five years of actual income and expense statements

• Current rent rolls showing actual lease rates vs. market rates

• Vacancy and collection loss history

• Capital expenditure records and deferred maintenance documentation

If your property has below-market rents, high vacancy, or significant deferred maintenance, the income approach can demonstrate that the assessor's value exceeds what a buyer would actually pay.

5. Document Property Condition Issues

Photographs and written descriptions of physical issues — roof deterioration, outdated mechanical systems, ADA compliance needs, parking lot damage, or environmental concerns — provide tangible evidence that the property's condition reduces its market value below the assessed figure.​

6. File on Time and Submit Complete Evidence

This cannot be overstated. In Anchorage, your appeal form and refundable filing deposit must be received or postmarked by February 11, 2026. Supporting evidence must follow within 15 additional days. In the Mat-Su Borough, your formal appeal must be submitted by February 27, 2026, with supporting documentation due within 15 days of the close of the appeal period. Appeals without supporting evidence will be dismissed.

7. Prepare for the Board of Equalization

If your appeal isn't resolved informally, it will go before the Board of Equalization (BOE). In both Anchorage and Mat-Su, the BOE is made up of appointed citizens with real estate expertise — not assessor's office staff. Key tips for the hearing:​

• You typically get five minutes to present, followed by five minutes from the assessor, and five minutes for your rebuttal​

• Lead with facts and evidence, not emotions — the BOE can only adjust values based on the legal grounds outlined above

• Review the BOE packet provided to you in advance and be prepared to address the assessor's summary

• New evidence generally cannot be introduced at the hearing if it wasn't submitted during the evidence period​

Don't Overpay on Your Commercial Property Taxes

A property tax assessment that's even 10% above fair market value can cost a commercial property owner thousands of dollars annually — and those overpayments compound year after year. In a year where Anchorage commercial values jumped 7.7% and Mat-Su values surged 15% or more, taking a close look at your assessment isn't just smart — it's essential.

Let Elevate Commercial Help You Appeal Your Assessment

Navigating a commercial property tax appeal in Anchorage, Palmer, or Wasilla takes more than just filing a form — it requires market knowledge, access to comparable sales data, and experience presenting a compelling case to the assessor's office or the Board of Equalization.

That's exactly what the team at Elevate Commercial does. As Southcentral Alaska's commercial real estate experts, we have the local market data, valuation expertise, and hands-on experience to evaluate your assessment, build a strong appeal, and advocate for a fair value on your commercial property.

Whether you own an office building in Midtown Anchorage, a retail center in Wasilla, or a warehouse in Palmer — if your 2026 assessed value doesn't match reality, we can help.

📞 Contact Elevate Commercial today to schedule a free assessment review. Don't wait — appeal deadlines are approaching fast, and every day counts.

Elevate Commercial is a full-service commercial real estate brokerage and property management firm serving Anchorage, Palmer, Wasilla, and the greater Matanuska-Susitna Valley. Our team specializes in commercial property sales, leasing, and property management for owners across Southcentral Alaska.