Average home values in the Mat-Su Borough have increased 7.41 percent since last year. And land is significantly undervalued, on average, about 60 percent less than what it should be, according to Mat-Su Borough Finance Director Cheyenne Heindel. The Borough is evaluating all Borough properties, a task that is expected to take several years. But as they evaluate Borough properties in sections, they may update the valuations based on those actual assessments. “Sometimes what’s happening in sales up north might be different than what’s happening with sales here in the core area.