What is Estimated Market Value?
As referred to previously, the Assessor is responsible for valuing property at its Estimated Market value. Estimated Market value can be defined as the highest price in terms of money which a property will bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably, and assuming that neither is under undue duress. According to state law, the Assessor's Estimated Market value is supposed to represent 100% of real value as expressed in the market place. The Minnesota Department of Revenue and the Minnesota Tax Court sit in judgment annually to determine whether the Assessor's Office has done its job according to statute. The performance of the Assessor's Office is measured statistically by the use of sales ratio analysis. By law, assessor's values are to be within 90% and 105% of sale price of the sales period of October 1, 2012 through September 30, 2013 for the 2014 Assessment. If this level of assessment is not achieved, the county is subject to valuation adjustments by the Department of Revenue or The Minnesota Tax Court.

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1. Frequently Asked Questions
2. What about homestead for property owned by a trust?
3. What about someone with a disability? (blind, disabled, veteran related disability)
4. How often do I have to apply for homestead?
5. What will happen if I file a false homestead claim?
6. Why is the property classified as non-homestead?
7. Why must I provide my social security number?
8. What if I move?
9. What is a Notice of Valuation and Classification?
10. Who receives a Notice of Valuation and Classification and when is it mailed?
11. If a property owner fails to receive Notice of Valuation and Classification, what should be done?
12. Does the Notice of Valuation and Classification address the property tax impact of the new assessment?
13. What is Estimated Market Value?
14. How does the Assessor determine Estimated Market Value?
15. What is the difference between assessment year and tax year?
16. Why does my value change when nothing has been done to my property?
17. Why doesn't the Assessor's value reflect the sale price of my property?
18. I don't want the Assessor to view my property; can he/she change the value without viewing it?
19. Does the Estimated Market Value increase at the same rate on all properties?
20. Can the Estimated Market Value change even if the assessor has not been inside my property?
21. Why is the property assessment classification different than the zoning classification?
22. Why has my value gone up?
23. What will happen to my value if I improve my property?
24. Will my value go up if I repair my property?
25. Is my property abstract or torrens?
26. Do I have an easement for my property?
27. How do I fill out the documents for recording?
28. My spouse passed away and I need to remove his/her name from ownership on my property. How do I do so?
29. How may I find out if / when a property is going to forfeit because of past due taxes?
30. Are all tax forfeited lands, as shown in the plat book, available for sale?
31. What tax forfeited lands are available for sale?
32. Can I purchase parcels that did not sell at the public auction?
33. Are tax forfeited lands with structures ever sold at auction?
34. Can I purchase under contract?
35. How do I handle Special Assessments?
36. How do I receive a land sale brochure?
37. What are the payment requirements after the sale?
38. What is the interest rate?
39. What type of deed is used to transfer title?
40. Who determines the tracts to be offered for sale?
41. Do I have to stake my project area?
42. How do I find land use permit fees and applications?
43. What do I need to obtain a land use permit?
44. How do I get a permit to install a septic system?
45. What is the Development Review Team (DRT)?