Crow Wing County Property Value Appraisal Increases $ 890 Million

According to property assessment data released by the County Land Services Department, the total estimated value of all properties in the county has increased from $ 12.1 billion on January 2, 2020 to $ 13 billion on January 2, 2021, an increase of $ 890 million. or 7%.

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In 2008, the estimated market value of properties in the county was just over $ 12 billion. This is the first time the county’s estimated total market value has far exceeded $ 12 billion, which was the 2008 record before the negative impact of the Great Recession on the housing market.

Although the total value of properties in the county has increased, that does not mean that every property has seen its assessed value increase, said Gary Griffin, land services supervisor for property valuation and classification, in a statement from hurry.

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“The value of each property is determined based on the actual sales that have taken place in the market,” Griffin noted. “If comparable properties in a neighborhood during the study period sold for more, valuations will be higher; if comparable properties nearby sell for less, valuations go down. “

State rules govern how properties are classified and valued, based on physical characteristics, use of the property, and sales of comparable properties over a prescribed period. Only “arm’s length” transactions can be used for comparable sales, which excludes the use of foreclosure sales to determine values.

Additionally, Minnesota law requires that appraised values ​​fall within a statistical range of 90% to 105% of market value. If the rating is outside this range, the report requires that the property values ​​be raised or lowered accordingly.

Griffin also pointed out that higher or lower imposed values ​​do not necessarily mean higher or lower taxes.

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“Government spending, at the county, city, township and school district levels determines the taxes due and payable on a property,” he said.

Taxpayers who have questions about their tax returns or assessment notices can visit the county’s website at www.crowwing.us, contact the office at 218-824-1010 or by email [email protected].

The Land Services Office is located in Brainerd, on the ground floor of the Land Services Building, 322 Laurel Street.

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