Classification is a definition of how the property is used, determined by its ownership and use. Classifications such as homestead, commercial, and agricultural describe the primary use of a property, and affect the amount of property tax paid. By state law, various classes of property are taxed at different rates. For example, two neighboring homes of equal value will be taxed at different rates if one is a homestead and one is a seasonal property. Class rates are created and defined by the Minnesota State legislature. New homeowners should contact their assessor to apply for homestead. For more information, contact the Assessor at 218-384-9142.
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County assessors estimate property market values and classify them according to their use for property tax purposes. Every year the assessor reviews the market valuation of all properties in each jurisdiction to determine if changes in the real estate market require a change in the estimated market value. Minnesota law requires assessors to actually view each parcel of real estate every five years to appraise its market value. In addition, each year the appraiser inspects parcels with new construction, alterations, or improvements.
Taxing jurisdictions such as the county, schools, cities and townships, adopt budgets after public hearings. This determines the tax levy, which is used to calculate the rate of taxation required to raise the money budgeted. The taxes you pay are proportionate to the value and classification of your property district.
The Assessor's responsibility is with market value and classification, not taxes. The Assessor does not:
For more information, contact the Assessor at 218-384-9142.
Market value is the price a willing, knowledgeable buyer would pay for your property if it were offered for sale on the open market. The assessor does not create this value, but instead interprets what is happening in the marketplace between buyers, sellers, their agents, mortgage companies, etc. Values change with economic conditions as well as changes to the property. For more information, contact the Assessor at 218-384-9142.
A mass appraisal process is used for estimating market values. Information from all sales that occur within the county are collected and closely analyzed by the Assessor's Office. The Assessor's Office then adjusts market values by comparing properties that sold within a given area with properties that have not sold within that same area For more information, contact the Assessor at 218-384-9142.
Estimated Market Value Fact Sheet
The assessor has not created the value. People make value by their transactions in the market place. Property values are based on market values which fluctuate with general economic conditions such as interest rates, inflation rates, supply and demand and changes in tax laws. By Minnesota state law, as properties values change in the market place, those changes must be reflected in the assessor's estimated market value. For more information please contact the Assessor's Office, 218-384-9142.
The assessor who values and classifies your property should be your first contact if you have questions or want more information. If you are not sure who your assessor is, call the county office. The assessor can review your parcel records with you, review local sales activity, zoning regulations and general market trends. You can also review how other local properties are valued and classified to judge if your property is fairly valued and classified. After meeting with your assessor to discuss your concerns there are three levels of appeal available to you if you choose to appeal. These must be completed in order, unless you choose to go directly to the Regular Division of Minnesota Tax Court. For more information, contact the Assessor at 218-384-9142.
No, it does not. There are differences between individual properties and between cities or townships. In one area the sales may indicate a large increase in value and in another area there may be very little or no change in value. Also, different types of property within the same area may show different value changes. There are numerous factors to be considered in each property which will cause value changes to differ. Some of the factors that can affect value are location, condition, size, quality, basement finish, garages and many other factors. For more information, contact the Assessor at 218-384-9142.
If all property see a similar increase in value, your property class has not changed, the local government agencies don't have to increase their budgets and there is no change in classification rates by the state legislature there will be no increase in your tax bill. Taxing authorities actually determine how much money the property tax has to raise to provide services to the taxpayer. For more information on the tax rate, contact the Auditor's Office at 218-384-9127.
Yes. The assessor keeps records on the physical characteristics of each property in the county. Even though the assessor may have been unable to go through your property, the estimated market value will be reviewed based on existing records and sales of similar property. For more information, contact the Assessor at 218-384-9142.