FAQs

1. What is an Estimated Market Value?
2. What is a Property Tax Classification?
3. How can I find out my Estimated Market Value or Classification?
4. What is mass appraisal?
5. If I purchase a property for less than the Estimated Market Value, will my value go down?
6. What is an RVL or RV NHSTD Classification?
7. Are foreclosure sales, bank sales, or short sales used to value property for property tax purposes?
8. Are a real estate agent’s listings used to value property for property tax purposes?
9. What do appraisers look at when they inspect a house?
10. What do appraisers look at when a land appraisal is done?
11. How can my value change every year?
12. What are the approaches to valuing property?
13. Why does the assessor request income information on my income producing property?
14. Why does my financing appraisal show a different value than the Estimated Market Value?
15. Does my Estimated Market Value include the value of timber?
16. If my value goes up does that mean the county collects more in taxes?
17. Why did my taxes go up even when my value went down?
18. Why do some parcels with similar values have huge differences in tax amounts?
19. What do I have to do to claim a homestead classification?
20. My building is not on a permanent foundation. Do I pay property taxes on this?
21. Who supervises the assessor’s work?
22. What are the educational or licensing requirements for assessors?
23. I have a travel trailer at a resort that stays there all year. Why do I pay property taxes on it?

1. What is an Estimated Market Value?

The Estimated Market Value (EMV) is what the assessor estimates your property would likely sell for on the open market.

2. What is a Property Tax Classification?

The property tax classification refers to the use of the property as of the assessment date.

3. How can I find out my Estimated Market Value or Classification?

Find this information on the notice of valuation and classification mailed to you annually or on the county website.

4. What is mass appraisal?

Mass appraisal is valuing many properties using a standard method and common data.

5. If I purchase a property for less than the Estimated Market Value, will my value go down?

EMV does not change based on a single sale. It is based on a group of sales.

6. What is an RVL or RV NHSTD Classification?

Rural Vacant Land classification is used for undeveloped land without buildings or agricultural use.

7. Are foreclosure sales, bank sales, or short sales used to value property for property tax purposes?

Foreclosure and distressed sales are generally not used for property tax valuation.

8. Are a real estate agent’s listings used to value property for property tax purposes?

Real estate listings are not directly used for property tax valuations.

9. What do appraisers look at when they inspect a house?

Appraisers inspect various factors like square footage, condition, and structural elements.

10. What do appraisers look at when a land appraisal is done?

Land appraisals consider size, elevation, access, soil type, and proximity to development.

11. How can my value change every year?

Values change annually based on market conditions and reassessments.

12. What are the approaches to valuing property?

Approaches include cost, sales comparison, and income methods.

13. Why does the assessor request income information on my income producing property?

Income information helps assessors accurately value income-producing properties.

14. Why does my financing appraisal show a different value than the Estimated Market Value?

Appraisals prepared by a private fee appraiser are often limited to a specific end use such as mortgage financing or settlement of an estate. They are different in nature and subject to different rules than appraisals done by an assessor. The assessor’s office does not prepare narrative appraisals with specific comparable sales for every property in the county. The effective date of assessor’s appraisals are January 2 of each year and the supporting sales information is taken from the sales study period during part of the two years prior to January 2. Specifically, the 2025 assessment values have an effective date of January 2, 2025. The sales to support these values occurred from October 2023 through September 2024. For example, if your financing appraisal has an effective date of June 2024, it may reflect a market change that the assessor’s value does not reflect since it’s a newer appraisal.

15. Does my Estimated Market Value include the value of timber?

Timber or crops are not explicitly included in EMV but may affect land valuation.

16. If my value goes up does that mean the county collects more in taxes?

Increased values do not always mean higher taxes; the tax levy determines taxes.

17. Why did my taxes go up even when my value went down?

If the tax money requested by the government increased but the valuations of properties have decreased, your tax bill may go up. Keep in mind that values are only one part of the tax equation. Here’s a simple example: If all property values in a city go down 10% but the amount that the city needs in taxes goes up 3%, then each property’s tax bill would likely go up by 3% if all other factors are held constant. This is because the share of the tax burden on each parcel has remained the same when taxes increased.

18. Why do some parcels with similar values have huge differences in tax amounts?

Tax differences arise from classifications, credits, and local tax rates.

19. What do I have to do to claim a homestead classification?

To claim homestead classification, submit an application to the assessor's office.

20. My building is not on a permanent foundation. Do I pay property taxes on this?

If you have a structure, such as a mobile home, shed, cabin, or deck that is on a temporary foundation such as concrete blocks or wood blocks, these structures are still generally valued for property taxes. There are some exceptions to this, like when a person lives in a travel trailer or wheelhouse with current license plates displayed, this trailer is not valued for property taxes.

21. Who supervises the assessor’s work?

The Minnesota Department of Revenue and County Board oversee assessors.

22. What are the educational or licensing requirements for assessors?

Assessors in Minnesota must be licensed annually by the State Board of Assessors. With this licensure, a minimum of 40 hours of approved continuing education is required every four years including several week-long courses over their career. Also, all licensed assessors must have a minimum of one year of assessment experience. Assessors must adhere to a standard code of ethics in Minnesota.

23. I have a travel trailer at a resort that stays there all year. Why do I pay property taxes on it?

Minnesota State Law requires that assessors value and tax travel trailers at resorts and campgrounds if they aren’t displaying current license plates, and if they are at the resort over the winter. Current license plates means that the tabs are up to date.