2023 Assessment Overview2023 ASSESSMENTOVERVIEW
2023 Assessment SummarySales Ratio Study Period: October 1st, 2021 – September 30th, 2022Otsego Valuation Change*County Wide Valuation Change*Property Type+ 15.59%+ 12.15%Residential / Seasonal Rec+ 17.09%+ 21.31%Agricultural / Rural+ 21.07%+ 20.99%Commercial+ 21.67%+ 25.29%Industrial+ 10.32%+ 18.52%Apartments+ 32.67%+ 28.07%Manufactured Home Parks*Value changes are estimated as of 4/10/2023 and exclude new construction
Property Taxation Timeline10/1/2021thru9/30/2022January 2nd, 2023 Assessment DateMarch Valuation Notices MailedApril - MayLocal Boards of Appeal and EqualizationOpen Book AppealsJune County Board of Appeal and EqualizationJune State Board of EqualizationJuneJulyAugustSeptember Truth in Taxation Levy CertifificationsNovember Truth in Taxation Notifications MailedDecember Final Budget Hearings; Final Levy CertificationsJanuary Tax Rates are calculatedMarch Property Tax Statements MailedMay 15th, 2024 1st Half Taxes DueOctober 15th, 2024 2nd Half Taxes Due - excluding Agricultural propertyNovember 15th, 2024 2nd Half Taxes Due on Agricultural property2024Assessment Year 2023 - Payable Year 202420232021 2022Sales study period for the 2023 Assessment.Sales are verified, analyzed, and compared to the 2022 Assessed Values.AssessorTaxpayer ServicesLocal Taxing AuthoritiesDevelop Preliminary Budgets at Local, County and School District Levels for 2024
Review the 2023 Assessment for property taxes due and payable in 2024Sales Study Period October 31st, 2021 – September 20th, 2022Review data provided by Property Owner’s and the Assessor to determine if a change to value or classification is warranted. Prior to making a change, a physical inspection of the property should be conducted by the Assessor to ensure the property data is accurate. If access is denied, an adjustment can not be made by the LBAE.Changes to the value or classification of an individual parcel can be made based on the factual information provided during the meeting. The Purpose of the Local Board
The Local Board shall consider all appeals and the factual evidence provided. They may then choose to do one of the following:1. Vote to change the property value or classification based on factual evidence provided by the property owner.2. Vote “No Change” on the property. The property owner retains the ability to appeal at the County Board of Appeal and Equalization or file in Tax Court.3. Recess the meeting to a later date if a decision can’t be made.Remember that changes made should be justified by facts as they have the effect of shifting the tax burden onto other property owners in the district.Making Changes at the Local Board
A quorum must be present with at least one “Training Certified” member as described under Minnesota statutes, section 274.014MN State law requires the assessor to value property at 100% of market value.The assessor’s estimate of market value is prima facie valid correct. The burden of proof is on the property owner to prove that the assessor’s value is in error. MN Statutes, section 271.06“Further, any changes made by the board must meet statutory guidelines.” 11Source: Minnesota Department of Revenue Board of Appeal and Equalization Handbook; updated December 2021Local Board Fine Print
Property Owner Appeal OptionsContact the Assessor’s Office 763-682-7367Most concerns are resolved at this level.Open Book Districts: Appeal options are open all the way up to the County Board of Appeal and Equalization meeting in June.Local Board of Appeal and Equalization Districts: Appeals must be heard at the local level in order to continue with appeal options at the County Board level. Deadline to appeal is the date of the Local Board of Appeal and Equalization meeting.County Board of Appeal and Equalization: June 12th, 2023Appointments required by June 5th, 2023Tax CourtPetition filing deadline is April 30thin the year in which the taxes are payable. There is no need to appeal at any other level prior to filing in Tax Court.