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ASSOCIATION OF [~--~J V Lr~J MINNESOTA COUNTIES Minnesota School ~' Boards Association T M~ ~ ~~ Who Does What? A GUIDE TO MINNESOTA'S PROPERTY TAX SYSTEM 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 EQUALtZAT10N CITY OR TOWNSHIP BOARD OF APPEAL AND EQUALIZATION: • The city council or 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, ETC.) • 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 (TnT) hearings on budgets (if required by state law). • Send final levy amounts to: • .......... . .•. .• FINANCE DEPARTMENT AUDITOR/TREASURER ' • 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 theCommissioner , of MN Dept. of Revenue). • Calculates the amount of each property owner's proposed state paid credits and net tax amount. • Prepares TnT riotice 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 Co:• • • • . • • • • • • • • • • • • • • • • • . • • • . . • • • . . . • 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 1 S; except that the second installment of taxes on agricultural property is due on November 15).