Frequently Asked Questions
Below you will find information that might help you understand how to find things or learn about information you might need to know about your city or town.
Property Taxes & Assessments
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This value is what the assessor estimates your property would likely sell for on the open market. State law requires assessors to value property at 100% of market value. Because it is statistically impossible to value at market value, state standards require the assessors to value property between 90% and 105% of market value based upon a sales sample, not just on an individual sale.Property Taxes & Assessments
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Sales of real estate are used as a guide in determining the assessor’s market values. These sales are analyzed to determine which factors contribute to the value. These factors are then put into a model or formula to apply to all properties. The values are then tested to make sure that the quality of the assessment meets statistical requirements.Property Taxes & Assessments
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Trends in the real estate market due to local economic conditions, interest rates, and supply / demand influence the value of property. The Assessor’s Office studies the real estate market each year. When properties sell for more each year, the assessor is required to adjust the values accordingly. Estimated market values can also be decreased if the real estate market shows sale prices are going down.Property Taxes & Assessments
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Not necessarily; many factors go into determining how much property taxes change from year to year. The items include spending habits of local governments, school bonds for either building or operating expenses, changes made by the legislature in the state property tax system, the amount of new construction within the county, and a change in property value or classification. A change in any of these can result in tax increases.Property Taxes & Assessments
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Property Taxes & Assessments
Minnesota Statute 273.20 states:
Any officer authorized by law to assess property for taxation may, when necessary to the proper performance of duties, enter any dwelling-house, building, or structure, and view the same and the property therein.
Any officer authorized by law to assess property for ad valorem tax purposes shall have reasonable access to land and structures as necessary for the proper performance of their duties. A property owner may refuse to allow an assessor to inspect their property. This refusal by the property owner must be either verbal or expressly stated in a letter to the county assessor. If the assessor is denied access to view a property, the assessor is authorized to estimate the property's estimated market value by making assumptions believed appropriate concerning the property's finish and condition.
Refusal of entry does not mean one cannot attend the board of appeal and equalization. However, Minnesota Statute 274.13 sub.1(8) states:
The board may not make an individual market value adjustment or classification change that would benefit property if the owner or other person having control over the property has refused the assessor access to inspect the property and the interior of any buildings or structures as provided in section 273.20.