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<br />" <br /> <br /> <br />ASSOCIATION OF ~~ <br /> <br />~ 1M'.",,,,,. S"""ol ~ Boa"" ",,,,,,,ot'o. I <br /> <br /> <br />MINNESOTA COUNTIES U <br /> <br />LMC <br /> <br />Leag- 0/ Mi,._oltJ emu <br />emu promoli"fl e:t<>>R_ <br /> <br />Fourteen Reasons <br />WHY PROPERTY TAXES VARY <br />FROM YEAR TO YEAR <br /> <br />1. <br /> <br />2. <br /> <br />3. <br /> <br />THE MARKET VALUE OF A PROPERTY MAY CHANGE. <br /> <br />. Each parcel of property is assessed at least once every five years and a sales ratio study <br />is done to determine if the property is assess similarly to like properties. If not, the <br />Commissioner of Revenue may issue an 'order' that would affect the taxable value of a <br />parcel. <br /> <br />. Additions and improvement made to a property generally increases its market value. <br /> <br />THE MARKET VALUE OF OTHER PROPERTIES IN <br />YOUR TAXING DISTRICT MAY CHANGE, SHIFTING <br />TAXES FROM ONE PROPERTY TO ANOTHER. <br /> <br />. If the market value of a property increases more or less than the average increase or <br />decrease in a taxing district, the taxes on that property will also change. <br /> <br />. New construction in a taxing district increases the tax base and will affect the district's tax <br />rate. <br /> <br />THE STATE GENERAL PROPERTY TAX MAY CHANGE. <br /> <br />. The state legislature directly applies a State General Property Tax to commercial/industrial <br />and season/recreational property classes. <br />