Property taxes themselves are set when each local jurisdiction determines the revenue needed from property taxes. There is no direct relationship between the amount of your property tax and your estimated market value. In fact, your property taxes can increase while your market value decreases and vice versa. However, you have the right to appeal your market value estimate and/or property classification if you feel your property is classified improperly, valued at an amount higher or lower than that for which you could sell it, or valued at a level different from similar property in your area.
Appeals of property tax assessments can be done informally, through working directly with the Assessor’s Office, or formally through filing a formal appeal to the city or county board and presenting it to the local Board of Appeal and Equalization. The Assessor’s job is to value property based on historical sales of similar property. The Board of Appeal and Equalization determines whether the property in the township or city has properly been valued by the assessor for the purpose of taxation, along with hearing citizen complaints and objections to the assessed value of their property. The Board must review the complaints and take action as they deem fair and appropriate in light of the information presented to them and relevant property tax laws.
Board decisions may be appealable to the Minnesota Tax Court. We can help you navigate the appeals process in an efficient, knowledgeable manner. Dealing with local government can be time-consuming and stressful. Our experienced staff can help make the process smoother and less stressful for you.