2 - Wright County Local Board Presentation4/18/2024
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2024 ASSESSMENT
OVERVIEW
What is the role of the Assessor?
To Value and Classify Property
Property Value is based on market data including sale prices, cost to
construct and income produced.
Property Classification is based on the use of the property.
(May or may not match current zoning)
The combination of property value and property classification determines the
portion of property taxes each property owner will pay.
Minnesota Assessor’s are licensed and follow strict legislative requirements
and direction provided by the Minnesota Department of Revenue and State
Legislation.
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Minnesota Property Tax System
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2024 Assessment Summary
For all taxable property types, Wright County had an increase in market value of
2.15% for the 2024 Assessment including new construction.
The current assessment meets or exceeds standards for uniform assessment in all jurisdictions as established by the International Association of Assessment
Officers.
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$14.897
$15.969 $16.921
$18.080
$21.939
$25.667 $26.218
10.00
12.00
14.00
16.00
18.00
20.00
22.00
24.00
26.00
28.00
30.00
2018 2019 2020 2021 2022 2023 2024
*Values from MN DOR Mini Summary Report which excludes: exempt,
personal property, and state assessed values.
County EMV (in billions)
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2024 Assessment Summary Sales Ratio Study Period:
October 1st, 2022 – September 30
th, 2023
Wright County Valuation Change
Net Change
excluding New
Construction
Gross Change
including New
Construction
Property Type
- 1.49%+.41%Residential
+ 9.42%+ 10.42%Seasonal Residential
+ 0.23%+ 0.43%Agricultural / Rural
+ 7.05%+ 9.21%Commercial
+ 4.92%+ 8.92%Industrial
+ 8.93%+ 22.55%Apartments
+ 25.91%+ 25.91%Manufactured Home Parks
+ 0.16%+ 2.15%Total Valuation
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2024 Assessment Summary
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Agricultural
$3,601,547,473
12.80%
Apartments & MH Parks
$865,224,900
3.08%
Commercial
$1,496,639,900
5.32%
Exempt
$1,918,830,100
6.82%
Industrial
$764,067,000
2.72%
Residential
$18,319,991,574
65.11%
Seasonal Residential
$1,170,384,700
4.16%
2024 Assessment EMV Breakdown by Property Type
Agricultural Apartments & MH Parks Commercial Exempt Industrial Residential Seasonal Residential
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2024 Assessment Summary
New HomesParcelsPlatsYear
1,031712462023
1,1201,370532022
1,4131,982662021
1,223643532020
863821502019
913797432018
Wright County Growth: Parcels and New Construction
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271.09 294.48 317.68
405.25
582.51 610.58
510.17
100
200
300
400
500
600
700
2018 2019 2020 2021 2022 2023 2024Value (in millions)Value of Total New Construction
Property Taxation Timeline
10/1/2022
thru
9/30/2023
January 2nd, 2024 Assessment Date
March Valuation Notices Mailed
April - May Local Boards of Appeal and Equalization
Open Book Appeals
June County Board of Appeal and Equalization
June State Board of Equalization
June
July
August
September Truth in Taxation Levy Certififications
November Truth in Taxation Notifications Mailed
December Final Budget Hearings; Final Levy Certifications
January Tax Rates are calculated
March Property Tax Statements Mailed
May 15th, 2025 1st Half Taxes Due
October 15th, 2025 2nd Half Taxes Due - excluding Agricultural property
November 15th, 2025 2nd Half Taxes Due on Agricultural property2025Assessment Year 2024 - Payable Year 2025
20242022 2023Sales study period for the 2023 Assessment.
Sales are verified, analyzed, and compared to the 2022
Assessed Values.AssessorTaxpayer ServicesLocal TaxingAuthoritiesDevelop Preliminary Budgets at Local, County and School
District Levels for 2024
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The Homestead Market Value Exclusion
Changes to the Homestead Market Value Exclusion for 2024 Assessment
The Homestead Market Value Exclusion reduces the taxable market value for
properties qualifying for homestead.
Legislation in 2023 increased the maximum valuation in which a property could receive
a benefit from the homestead exclusion from $413,800 to $517,200. Properties valued
at $517,200 or higher do not receive the exclusion.
This benefit applies to residential homesteads and the house, garage and one acre of
land for agricultural homesteads.
The formula set by state law phases out this benefit as the estimated market value
increases:
Properties with a total estimated market value of $95,000 $76,000 receive the
maximum benefit of a 40% reduction in taxable value.
(Maximum Exclusion = $38,000 $30,400)
Properties valued between $95,000 $76,000 and $517,200 $413,800 have their
exclusion calculated by taking the maximum exclusion ($38,000) ($30,400)and
reducing it by 9% of the market value over $95,000 $76,000.
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Review the 2024 Assessment for property taxes due and payable in 2025
Sales Study Period October 1st, 2022 – September 30
th, 2023
Review 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
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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
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A quorum must be present with at least one “Training Certified” member as
described under Minnesota statutes, section 274.014
MN 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.” 1
1 Source: Minnesota Department of Revenue Board of Appeal and Equalization Handbook; updated December 2021
Local Board Fine Print
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Property Owner Appeal Options
Contact the Assessor’s Office 763-682-7367
Most 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 17th, 2024
Appointments required by June 10th, 2024
Tax Court
Petition filing deadline is April 30th in the year in which the taxes are payable.
There is no need to appeal at any other level prior to filing in Tax Court.
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Receiving Property Notifications via eNotice
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Wright County offers the opportunity to receive Notifications of Value, Truth in Taxation Notifications
and Property Tax Statements from the convenience of your phone, computer, or mobile device.
It only takes a minute to sign up and it is free.
Currently over 1,200 property owners have signed up for this free service.
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Property Owner Resources
Wright County Assessor’s Office 763-682-7367
https://www.co.wright.mn.us/134/Assessor
3650 Braddock Ave NE, Suite 1700
Buffalo, MN 55313
Minnesota Department of Revenue
Property Tax Information: https://www.revenue.state.mn.us/property-tax-information
Understanding Property Tax: https://www.revenue.state.mn.us/understanding-property-tax
Estimated Market Value: https://www.revenue.state.mn.us/estimated-market-value
Board of Appeal and Equalization Handbook
https://www.revenue.state.mn.us/sites/default/files/2021-12/baetraining_handbook%20122021.pdf
Property Tax Refund
https://www.revenue.state.mn.us/property-tax-refund
Wright County Taxpayer Services 763-682-7578
https://www.co.wright.mn.us/170/Finance-Taxpayer-Services
3650 Braddock Ave NE, Suite 1400
Buffalo, MN 55313
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