The deadline for Nome property owners to appeal their 2023 property assessment values is this Friday, April 28th at 5 p.m.
According to Nome City Clerk Bryant Hammond, the municipality had received 75 appeals as of April 24th.
In March, the Nome City Clerk’s office mailed out the new assessment values of properties owned in the city. Assessments are conducted during the fall before each tax year.
If a property owner disagrees with the amount the assessor has set for their property, they can file a written appeal with the Nome City Clerk’s office.
During the Nome Common Council meeting on April 24th, Nome Mayor John Handeland explained what comes next in the process.
“The Board of Equalization will meet, if necessary, in May on cases that are not resolved with the assessor, but you can’t come to the (Board of Equalization) and state your point in May if you have not actually filed an appeal,” Handeland said.
The Board of Equalization is scheduled to meet May 3 at 5:30 p.m. The council, sitting as the BOE, will take up appeals that have not been adjusted between the assessor and property owners.
According to preliminary budget assumptions from the city, the mill rate is projected to be reduced from its current 12 mill rate down to 11 mills but that will need to be approved by the Nome City Council via ordinance. Property taxes are calculated by multiplying the mill rate by the assessed value of the property. At the current property tax rate of 12 mills, property owners pay $12 for every $1,000 of assessed value.
City Finance Director Nikki Crowe says the overall property taxes to be taken in by the city in the coming year will increase significantly, by just more than 40 percent.
“Based on pre-BOE information, the property tax base is projected to increase by approximately 40.7% from FY 2023,” Crowe said. “However, it is subject to change following the BOE hearings to be held in May. Our FY 22 tax base was about $361 million. The FY 23 tax base was about $391 million, and the FY 24 tax base is $551,809,000.”
The Nome Common Council is scheduled to set the mill rate and do a first reading of the finalized budget on May 22.
Image at top: Nome City Hall building on Front Street. Photo by Brisa Alarcon/KNOM
