Instructions for Valuation Notice - Minnesota

This document was released by Minnesota Department of Revenue and contains the most recent official instructions for Valuation Notice .

FAQ

Q: What is a Valuation Notice?
A: A Valuation Notice is a document that provides you with the assessed value of your property for tax purposes.

Q: Why am I receiving a Valuation Notice?
A: You are receiving a Valuation Notice because it is the annual assessment of your property's value for property tax purposes.

Q: How is the assessed value determined?
A: The assessed value is determined based on the market value of your property as of January 2nd of the assessment year.

Q: Can I appeal the assessed value?
A: Yes, you have the right to appeal the assessed value if you believe it is incorrect. The Valuation Notice will provide instructions on how to do so.

Q: Are there any exemptions or credits available?
A: Yes, there may be exemptions or credits available that could reduce your property taxes. Contact your local assessor's office for more information.

Q: What should I do if I disagree with the Valuation Notice?
A: If you disagree with the Valuation Notice, you should contact your local assessor's office to discuss your concerns and explore your options.

Q: When is the deadline to appeal the assessed value?
A: The deadline to appeal the assessed value is usually 30 days from the date of the Valuation Notice, but it may vary depending on your jurisdiction.

Q: What happens if I don't appeal the assessed value?
A: If you don't appeal the assessed value, it will be used to calculate your property taxes for the upcoming tax year.

Q: Can the assessed value change from year to year?
A: Yes, the assessed value can change from year to year based on changes in the market value of your property.

Q: Is the assessed value the same as the market value?
A: No, the assessed value is not necessarily the same as the market value of your property. The assessed value is used for property tax purposes only.