North Star Alaska Housing Corp. v. Fairbanks North Star Borough Board of Equalization

OPINION

COMPTON, Justice.

The conflict between North Star Alaska Housing Corporation (North Star) and the Fairbanks North Star Borough (FNSB) regarding the valuation of North Star’s housing project at Fort Wainwright again comes before this court. This time North Star appeals its 1988 tax assessment. We affirm.

I. FACTUAL AND PROCEDURAL BACKGROUND

The background facts of this case are noted in North Star Alaska Housing *1110Corp. v. Fairbanks North Star Borough Bd. of Equalization, {North Star I), 778 P.2d 1140, 1141-42 (Alaska 1989). In short, North Star leased land from the federal government at…