Assessed Value to Property Taxes
The value determined by the assessor as the price the property would likely sell for on the open market is called the estimated market value (EMV) or Assessed Value. This value is determined each year on the assessment date of January 2.
The January 2, 2014, market value was based on 'open-market-sales' that happened between October 1, 2012 and September 30, 2013. ("Open-market-sales" are sales that were on the market, and were between willing buyers and willing sellers, neither under any undue pressure to buy or sell.)
The values for January 2, 2014 (taxes payable in 2015) were finalized on July 1, 2014 (M.S. 274.175).
The appeal process for the 2014 value (taxes payable in 2015) and the appeal timeline was shown on the Notice of Valuation that was mailed to all property owners in March 2014.
The 2015 Notice of Valuation will be mailed in March 2015, and will provide value information for taxes payable in 2016.
Appeal information for the 2015 Value (for taxes payable in 2016) will be included on the 2015 Notice of Valuation.
*The information contained on this page is an example and pertains to all years. This timeline is set by the State and does not change.