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From YouTube: How to appeal your property value and classification
Description
What you need to know about appealing your property’s estimated market value and classification, including key dates, resources and steps in the appeal process. For more information go to http://www.minneapolismn.gov/assessor/
A
Every
year
the
city
of
minneapolis
assessor's
office
values
and
classifies
over
a
hundred
and
thirty
thousand
properties.
The
city
completes
the
annual
assessment
on
january.
Second,
in
the
spring,
the
assessor's
office
mails,
a
valuation
notice
to
property
owners,
be
sure
to
read
your
valuation
notice
in
its
entirety,
as
it
includes
important
information.
A
Some
key
items
include
your
property's
estimated
market
value
classification
and
homestead
status.
Your
property's
estimated
market
value
is
the
amount
it
would
likely
sell
for
on
an
open
market.
Your
property's
classification
is
based
on
its
use.
Homestead
status
is
based
on
who
owns
and
who
occupies
a
property.
If
you
disagree
with
the
information
on
your
notice
contact
the
assessor's
office,
for
example,
if
you
believe
your
property's
homestead
status
is
incorrect,
you
should
contact
the
assessor's
office
for
assistance
to
correct
that
information.
A
A
You
should
start
by
gathering
information
about
your
property,
such
as
square
feet,
age,
bath
and
bedroom
count
and
sales
of
properties
similar
to
yours.
All
this
information
can
be
found
on
the
assessor's
website,
which
has
several
useful
tools
and
helpful
links
to
find
accurate
information
about
your
property.
A
You
can
click
on
property
info
to
research,
the
history
of
your
property's
estimated
market
value
and
find
additional
information
about
your
property.
The
neighborhood
sales
finder
tool
can
help
you
find
information
on
sales
of
properties
similar
to
yours
after
you've
completed
your
research
contact.
The
assessor
listed
on
your
valuation
notice
to
discuss
your
concerns
and
determine
next
steps.
Often
your
issues
can
be
resolved
at
this
level.
If
not,
the
assessor
will
request
completion
of
an
appeal
application.
A
A
If
you
and
the
assessor
are
unable
to
agree
on
your
property's
value
or
classification,
you
can
make
a
formal
appeal
to
the
local
board
of
appeal
and
equalization
by
law.
Neither
the
local
nor
county
board
of
appeal
and
equalization
can
make
a
change
benefiting
a
taxpayer
when
an
inspection
is
refused.
A
You
will
find
formal
appeal
information
on
the
assessor's
website.
Steps
in
the
formal
appeal
process
include
obtaining
and
completing
an
application.
Appeals
can
be
heard
at
the
local
and
county
level
and,
ultimately,
the
minnesota
tax
court
be
sure
to
pay
attention
to
important
dates.
On
the
assessor's
website
note,
the
assessor
is
only
responsible
for
assessing
the
estimated
market
value
of
your
property,
not
the
amount
of
taxes
you
pay.
The
current
year's
assessed
value
is
used
to
calculate
taxes
payable
in
the
next
year.
For
example,
your
2020
value
is
used
to
calculate
taxes
payable
in
2021.
A
Taxing
authorities
such
as
the
city
county,
school
board,
park
board
and
watershed
districts
set
tax
rates
which
are
used
to
calculate
your
taxes.
These
tax
rates
cannot
be
appealed
as
a
reminder,
be
sure
to
read
the
valuation
notice
you
receive
in
the
spring
in
its
entirety.
If
you
disagree
with
your
property's
estimated
market
value
or
classification,
that's
the
time
to
consider
your
appeal
options,
which
are
listed
on
the
valuation
notice.