Isanti County Assessor’s Office explains valuation process

Article provided by Isanti County

The role of the Isanti County Assessor’s office is to value and classify all real and personal property in Isanti County.

The process begins with the assessor collecting data on sales of properties within the market during a specific time period between October 2012 and September 2013 (this is the sales study period). Over several months, assessors analyze the data in order to estimate the property’s market value for the next assessment (January 2, 2014).

All sales are reviewed and stratified in different ways including location, property type, age and style. A single sale may not represent the true market activity. Rather, sales of all properties are reviewed to determine the market trend.  Assessors use historical data in order to estimate market value. The assessor does not increase value to raise property tax revenue. Total property tax revenues are a function of county, school district, and city-township spending as well as state-paid local government aid and other factors.  The value and classification of the property are merely a way to divide the total property tax levy among the taxpayers. The total amount of the levy will be collected whether the values increase or decrease from year to year.

Minnesota Statute 273.08 requires that appraisers physically review each property every five years. Each year between May and January, Isanti County appraisal staff review properties. A notice is posted to the county website and the local paper the areas we will be assessing that year and if a property owner contacts us we will set up appointments.

If no one is home when the appraiser stops at the property, we leave a notice of visit asking that you call for an appointment to review the interior. If there is no response, an educated estimation is made of the interior features and condition of the home. Appraisers at Isanti County are required to carry a photo identification card, Assessor’s license and-or a business card. Appraisal staff often times drives a car issued by Isanti County.

The Valuation Notice and the Tax Statements will be mailed together at the end of March 2014. That valuation statement will inform you of the market value, the classification and your appeal process. If you disagree with the valuation or classification, the first step is to contact the assessor office.

If your concern is not resolved at the time that you contact the assessor, you may attend the annual Local Board of Appeal and Equalization or Open Book meeting identified on your notice. An appeal cannot be approved without an interior review by an Isanti County Appraiser.

You may appeal in person, by letter or have someone represent you. If you are not satisfied with the Local Board of Appeal and Equalization or open book meeting, you can then appeal to the County Board of Appeal and Equalization in June.