Property Assessment Guide

Properties are assessed based on their classification---residential, commercial or agricultural.

Property assessments are used to calculate how much a property owner owes in taxes. The assessment is a percentage of the property's market value.

Process

An assessor, or an elected official, determines the property assessments. The assessor estimates the market value of the properties, then calculates the assessments. The assessor reviews and updates this information annually.

Percentage

Each of the properties in a community is assessed at the same rate based on classification. These classifications are residential, commercial and agricultural. The state determines the assessment percentages.

Appeal

A property owner may appeal a property assessment if she feels the market value is incorrect. The appeals process typically takes place once a year before a local board of review.

References

• NYS Office of Real Property Tax Services: FAIR ASSESSMENTS -- A Guide For Property Owners
• Anoka County: FAQs - Understanding Your Property Assessment