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Anoka County City of Lino Lakes <br />10 <br /> <br />Reassessment <br />State Statute reads: "All real property subject to taxation shall be listed and reassessed every <br />year with reference to its value on January 2nd preceding the assessment ." This has been <br />done, and the owners of property in Lino Lakes h ave been notified of any value change. Minnesota <br />Statute 273.11 reads: "All property shall be valued at its market value ." It further states that "In <br />estimating and determining such value, the Assessor shall not adopt a lower or different <br />standard of va lue because the same is to serve as a basis for taxation, nor shall the assessor <br />adopt as a criterion of value the price for which such property would sell at auction or at a <br />forced sale, or in the aggregate with all the property in the town or district; b ut the assessor <br />shall value each article or description of property by itself, and at such sum or price as the <br />assessor believes the same to be fairly worth in money." The Statute says all property shall be <br />valued at market value, not may be valued at mar ket value. This means that no factors other than <br />market factors should affect the Assessor's value and the subsequent action by the Board of Appeal <br />and Equalization.