Assessors value and classify property according to assessment standards set by the State of Minnesota. Assessors conduct both individual and mass appraisals of real estate property.
Who we are
Assessors are professionals with strict training, experience and certification requirements set by the Minnesota State Board of Assessors (governing body that administers assessor licensing). Assessors must have a college degree (or equivalent), real estate appraisal experience and certification from the Minnesota State Board of Assessors.
What we do
|Accurately and fairly appraise and classify real estate and appropriate personal property within the City of Minneapolis||Establish tax rates|
|Process owner requests for a valuation review||Issue tax statements/bills|
|Explain the avenues of appeal if property owners disagree with their estimated market value||Collect or refund taxes|
|Determine the current classification and use of property|
|Process and maintain homestead applications|
|Process special homestead applications for residents with qualifying disabilities|
|Fulfill public requests for real estate property information|
|Administer special programs (example: property tax exemption)|
|Provide information and feedback to taxing authorities|
How we do it
- Assessors value and classify property according to assessment standards set by the State of Minnesota. Assessors conduct both individual and mass appraisals of real estate property.
- Assessors study construction, sales data and neighborhood trends to establish valuation benchmarks in their appraisal work. Property values (land and building) change according to market conditions and changes in physical attributes. Many factors are considered in estimating property market value.
- Assessors determine the classification or use of property. Property classifications are taxed at different percentages or rates according to Minnesota statutes.