Juneau assessor trims contested Glacier Highway value but says it appears undervalued

The Juneau Assessor's Office has lowered its recommended 2026 value for Brent and Erin Howell's Glacier Highway property to $3.35 million, ahead of a Nov. 5 rehearing of the couple's appeal.

That's $217,500 less than the original assessment of $3.57 million, but about $915,000 more than the Howells say the property is worth. And the office says the property still appears undervalued.

The property, at 11806 Glacier Highway, holds a two-story retail and apartment building built in 1950 and remodeled starting in 2021, plus mini-warehouses with 20 storage units.

The Howells appealed, saying the city overvalued the property. At a July 16 hearing, the city stood by its full assessment, and the board sent the case back to the Assessor's Office for another look.

After the Howells shared what their tenants actually pay, the office lowered its figure, according to the Board of Equalization's agenda packet.

The Howells' profit and loss statement shows expenses eating up 63% of income. The office said that likely includes the storage units and extra land, which it values separately. Similar buildings typically run 40% to 45%, it said.

The office also said the Howells' retail rents, about $1.99 per square foot, are at the very low end of the market. Only five of Juneau's 95 retail, bar and restaurant buildings are assessed at rents of $2 or less, and the other four are in fair condition, it said.

It estimated the land alone at $2 million to $2.5 million, so the Howells' estimate of about $2.44 million "supports only the land value."

"We are valuing what this property would sell for on the open market, not its current performance alone," the office wrote.

The Howells have to prove the assessment is wrong. Unless a majority of the three-member board votes to change it or send it back again, the appeal is denied and the assessment stands.