Good maintenance will help retain the market value of your property. Generally, your market value will not be increased for individual minor repairs such as those that follow. However, a combination of several of these items could result in an increase in your value.
For more information, contact the Assessor at 320-968-5019.
Show All Answers
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, contact the Assessor at 320-968-5019.
If all property sees a similar increase in value, your property class hasn't 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, contact the Assessor at 320-968-5019.
A mass appraisal process is used for estimating market values. Information from all sales that occur within the county is 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 320-968-5019.
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 320-968-5019.
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 320-968-5019.
Generally speaking, improvements that increase the market value of a property will increase the assessor's market value. The following are typical improvements that will increase the market value of your property: