A Note from the Crow Wing CountyAssessor to the Citizens of the County

According to Minnesota state statute, Notices of Valuation and Classification are being sent during the months of March and April.  Many of you may look at the Estimated Market Value that is being used for property tax purposes and feel that it is not realistic in the current marketplace.  I am writing this in hopes of clarifying some of the confusion with the mass appraisal assessment process and the timelines leading to the Notice of Valuation and Classification.

Understanding the Assessment Timeline &
How it Relates to the Notice of Valuation and Classification

State law mandates the assessor to value property at market value and classify it according to its use as of January 2nd of the assessment year.  The timeline allows for an appeals process to review value and classification for the current assessment year (see the reverse side of the Notice for further detail).  The 2009 Notice of Valuation and Classification reflects market values determined as of the January 2, 2009 assessment date which uses statistical data compiled from actual real property sales occurring from October 1, 2007 through September 30, 2008.  The valuations and classifications will be used for the taxes that will be paid in 2010.

As many of you are aware, the residential real estate market is being influenced by economic factors not seen in recent history.  Our valuation is a snapshot in time, and during periods in which real estate prices are rapidly changing, mass appraisal assessment values will often lag from what is occurring in the current marketplace.  This is true whether the market is appreciating or declining in value.

It is very important that values of similar properties are equalized with one another so that even in challenging markets, valuations of similar properties will be treated fairly in the assessment process.

The Crow Wing County Assessor's office is fully aware of the market conditions currently affecting real estate.  The current market study included analysis of all arm's length, open market sales and we will continue to follow the trends into the future.