About Your Valuation Notice

Sample Valuation Notice 2024


Value Notice Breakdown

  1. PIN – Property Identification Number.
  2. Property Class (previous assessment year) – For taxes payable this current year, this is the classification of the property.
  3. Property Class (this assessment year) – For taxes payable next year, this is the classification of the property.
  4. Estimated Market Value – property value as determined by the County Assessor to be what the property would most likely sell for on the open market as of the January 2nd Assessment date.
  5. Green Acres/Rural Preserve/Ag Preserve/Open Space Value Deferred – if you qualify for one of these programs, the deferred value would be indicated here.
  6. Platted Vacant Land Deferral – for land that has recently been platted but not yet improved with a structure or sold. The deferred value is phased-in over time.
  7. Disabled Veterans Exclusion – Qualifying disabled veterans may be eligible for a valuation exclusion on their homestead property.
  8. Homestead Market Value Exclusion – Applies to residential homesteads and to the house, garage, and one acre of land on agricultural homesteads. The exclusion is a maximum of $30,400 at $76,000 of market value, and then decreases by nine percent for value over $76,000. The exclusion phases out for properties valued at $413,800 or more.
  9. Taxable Market Value – this is the value that the property taxes are actually based on, after all reductions, exclusions, limitations, exemptions and deferrals.
  10. New Improvement Value – the amount added to the property's estimated market value due to additions, remodeling, and other changes to the property.
  11. Local Board of Appeal and Equalization – the address and phone number where you may apply for an appeal on the property value. Go to page 2 of this form for more information about the appeal process.
  12. County Board of Appeal and Equalization – if not satisfied with the Local Board of Appeal and Equalization, this is the address and phone number of Wright County for the appeal process. Go to page 2 of this form for more information about the appeal process.
  13. QR Code – When scanned by your mobile device, it will direct you to the County Assessor website.