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Appeals

Terms Listed on Your Notice of Valuation

Estimated Market Value is the most probable sale price in terms of money in a competitive and open market, assuming that the buyer and seller are acting prudently and knowledgeably allowing sufficient time for sale and assuming that the transaction is not affected by undue pressures." What this simply means is what you could sell your property for in today's real estate market.

Classification of your property is mandated by state law and is based on the primary or most likely use of your property.

Value of New Improvements is the value placed on the property because of additions, remodeling and other changes that the assessor estimated add value to the property.

Limited Market Value applies to residential, agricultural, timber and seasonal residential recreational property (M.S. 273.11, Subd. 1a). Assessors are still required to estimate the market value of these properties, however, in some cases the law requires the use of a limited market value for purposes of determining the property tax bill. Under current law the limited value will be less than the market value if the market value has increased by more than 10% over the previous year. Value increases due to improvements to the property are excluded from the 10% limit.

Value Exemption for Certain Improvements (This Old House) is the amount of the New Improvement Value excluded from taxation on homestead property 45 years of age or older (M.S. 273.11, Subd. 16). Not all improvements qualify. No new applications accepted as this program is being phased out for existing applicants.

Taxable Market Value is the net valuation that will be used for the calculation of your following years tax bill. It is the final value after all qualifying reductions have been made.


Appeals Process

If after receiving your Notice of Valuation you disagree with or have questions about your estimated market value there are several ways to appeal your value:

  1. Collect any information you have to show why you believe your value or classification is incorrect (i.e. a recent appraisal of your property, recent sales of similar property etc.).
  2. Contact the Assessor's Office, ask the assessor to review the information used to determine the value of your property and share any information that you have gathered.
  3. If your concern is not resolved set up an appointment with the Township or City Clerk to attend the Local Board of Review identified on your value notice. If you are unable to attend the meeting you may send someone to represent you or send a letter to the town clerk addressing your concerns.
  4. If you have remaining concerns after the Local Board of Review you may call the Auditor's Office for an appointment to address the County Board of Equalization. Again, a letter may represent your appeal. To attend the County Board of Review, you must first attend the Local Board of Review.
  5. If after all the local appeals your concerns are not resolved you may petition the Minnesota Tax Court. Tax petitions must be filed prior to April 30th of the year the taxes are payable.

 

Appeal information is also outlined on the back of your notice of valuation, along with information on how to contact the tax court.