- Property Valuation and Classification Appeals
Property Valuation and Classification Appeals
Estimated Market ValueEstimated market value is the amount the assessor estimates a buyer would pay for your property if it were offered for sale. Each year the assessor reviews the market value of your property to determine if changes in the real estate market or improvements to your property require a change in the estimated market value.
Review the Minnesota Department of Revenue's Fact Sheet on How the Assessor Estimates Your Market Value.
Classification & Class RatesAll property is classified by the assessor according to its use. Each class of property (home, apartment, cabin, farm, business) is taxed at a different percentage of its value. This percentage, or class rate, is determined by the state legislature.
Review the Minnesota Department of Revenue's Fact Sheet Understanding Property Taxes.
Appealing Your AssessmentEach spring, the assessor's office will mail a Valuation Notice informing you of the value and classification of your property. You have the right to appeal if you feel the estimated market value and/or property classification is incorrect.
Review the Minnesota Department of Revenue's Fact Sheet on How to Appeal your Value and Classification.
Do Your Research
Be prepared with factual data. This might be an appraisal, a market analysis, or sales data gathered from the appropriate timeframe.
Contact the Assessor
- Contact the assessor’s office to verify information about your property such as structure dimensions, condition, etc.
- Ask the assessor to explain the criteria used to determine the estimated market value and classification of your property.
- Schedule a time for the assessor to review the property, if necessary.
- If you and the assessor are unable to agree on the property valuation or classification, more formal appeal methods (listed below) are available.
Local Board of Appeal and Equalization
Some cities and townships will hold a Local Board of Appeal and Equalization. These meetings are held on specific dates in April or early May. Meeting information will be found on your Valuation Notice. The appeal may be in person or in writing. You must appeal to this meeting in order to appeal to the County Board of Appeal and Equalization.
Open Book Meetings
Some cities and townships have opted to hold an Open Book Meeting, in which the property owner appeals directly to the assessor. Meeting information will be found on your Valuation Notice. If your city or township has chosen the Open Book meeting, you have the option to appeal directly to the County Board of Appeal and Equalization.
County Board of Appeal and Equalization
If you are not satisfied with the results of the Local Board of Appeal and Equalization or Open Book meeting, you may appeal to the County Board of Appeal and Equalization, held in June. Meeting dates and times are listed on your Valuation Notice. An appointment is necessary.
You may also appeal directly to the Minnesota Tax Court. For more information on tax court, visit MN Tax Court.