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~ Minnesota School m Boards Association II ". Who Does What? A GUIDE TO MINNESOTA'S PROPERTY TAX SYSTEM ASSOCIATION OF ~ MINNESOTA COUNTIES LMC ASSESSOR Locates the property to be taxed, estimates its market value (how much the property would sell for in today's market), and assigns it to a class according to its use. Sends out notices in the spring to "all property owners." Multiplies the estimated market value of each piece of property by the tax capacity percentage set by law for its class. The result is the tax capacity. Adds together the tax capacities for all the property in the taxing district and gives the total to: ~ Property owners who disagree with the assessor may appeal to: .. BOARDS OF APPEAL AND EQUALIZATION CITY OR TOWNSHIP BOARD OF APPEAL AND EQUALIZATION: The city councilor township board. Meets between April 1 and May 31. COUNTY BOARD OF EQUALIZATION: County board of commissioners. Meets for two weeks in June. STATE BOARD OF EQUALIZATION: Commissioner of Revenue. Meets between April 15 and June 30. The review board may change the estimate of the market value of the classification. MINNESOTA TAX COURT: Small claims or regular division. . . . . . . . . . . . . . . . . . . . . . . . TAXING DISTRICTS (YOUR SCHOOL DISTRICT, CITY OR TOWNSHIP, COUNTY, HC) Determine the services (such as street maintenance, fire and police protection) to be provided in the coming year. Estimate the costs of those services and determine what portion will come from property taxes. Prepare proposed budget/levy amounts Send final levy amounts to: ...................... Hold Truth-in-Taxation (TnD hearings on budgets (if required by state law). Send final levy amounts to:. . . . . . . . . . . . . . . . . . . . . . . FINANCE DEPARTMENT AUDITORITREASURER Determines the tax capacity rates and also uses the state general tax rate by dividing the proposed levy by the proposed total amount of tax capacity in the taxing district. Auditor uses state general tax rate to compute taxes (certified by the Commissioner of MN Dept. of Revenue). Calculates the amount of each property owner's proposed state paid credits and net tax amount. Prepares TnT notice and mails to each taxpayer. Recalculates the amount of each property owner's tax based upon the final levy amounts. Prepares a listing of the tax on all property owners in the county and gives the list to:. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Creates the property tax statements from the county tax lists. Mails the statements by March 31 of the following year. Property owners mail in their payments (due in two installments on May 15 and October 15; except that the second installment of taxes on agricultural property is due on November 15). . . . .. . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . .