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Assessments
Julie Roisen, County
Assessor
The assessing section is responsible for the discovery, valuation and
classification of all real and some types of personal property in Blue
Earth County. Blue Earth County has a county assessor system in which
county employees provide this function. The assessing section also includes
the administration of a variety of property tax programs including; Homestead,
Green Acres, Open Space, Education and Market
Value Credits, among numerous programs. The Assessor's Office also addresses
property valuation concerns and appeals. Additionally they provide assessment
and value information to the County Board, Local Boards of Review, and
to the public; coordinates drainage proceedings and related tasks associated
with drainage issues and provides mapping services.
What does the assessor do?
What is market value?
How does the assessor determine market value?
How do I appeal a market value or classification?
What do I get for my tax dollar?
What does the assessor do?
- Estimates value
Minnesota statues require estimated market value to be at 100% of market. Assessors view and inspect real estate to gather appropriate specific and general data in the valuation process. Because property values change with changing economic and demographic conditions current sale information is continuously reviewed providing the foundation for the valuation process. In addition to market changes, any physical changes that affect the value of land and buildings are noted and considered. All factors affecting market value are considered in this process. - Classifies property
The Minnesota property tax system has a system of classification, based on use, as part of responsibility of the assessor. Examples of the classifications are residential homestead, residential non-homestead, apartment, agricultural, commercial or industrial classes. Each classification has different classification rates set by the State Legislature. This classification rate has implications in the overall taxes associated with a property.
What is market value?
Market value is the price that would prevail under competitive open-market conditions in an arms-length transaction. This definition is defined by Minnesota Statutes, the Appraisal Institute and the International Association of Assessing Officers.
How does the assessor determine market value?
State law requires that the value and classification of real estate be established as of January 2 each year. All good sales and transactions of property are reviewed annually through statistical analysis to make determinations about market conditions and adjustments that are required to meet the Minnesota Department of Revenue guidelines for equalization. The valuation process includes the following:
- Sales analysis and review
A review and analysis of all good sales for every property classification and jurisdiction is performed. - Gathers information
The appraiser gathers information on all physical characteristics of the property that affect market value, such as size, age, quality, basement finish and extra features, such as fireplaces, extra baths, walkouts, etc. - Views property
Appraisal staff has been assigned a quintile review to meet the state requirements of viewing properties approximately every fifth year. In addition, all new construction, alterations or improvements that contribute to market value will be viewed in the appropriate year. - Estimates value
All physical property characteristics are entered into a computerized system which creates a model to value the properties and is driven by actual sales. The market values estimated by the assessor should be at, or very close to, the amount the property would sell for if placed on the open market as required by Minnesota Statutes. The State Board of Equalization reviews our annual assessment and has standards requiring the overall level of assessment to be between 90% and 105% of market value. The State Board of Equalization does and will make adjustments to our annual assessment to ensure compliance with this policy. - Notification
A Value Notice is mailed in the spring to each property owner. The assessment on January 2 forms the basis for the following year's tax. That is, the value and classification on January 2, 2004, is used to calculate the tax payable in 2005.
Various statistical tools are used by Minnesota Tax Court in determining equalization. The measure used by the court is the median ratio for the 9 month study. The median ratio measures the level of overall assessment for a specific property type. In Minnesota, the acceptable range for sales ratios in each taxing area is 90 to 105 percent.
How do I appeal my value or classification?
Upon receiving your Value Notice, there are several ways to appeal your value. See a chart summarizing the methods of appeal (PDF format).
Minnesota Tax CourtQuestions?
Contact the Blue Earth County Assessor at 304-4251, or visit Taxpayer
Services in the Courthouse at 204 S. 5th Street, Mankato.
