04/05/2010 Council Packet - Laserfiche WebLink

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Anoka County City of Lino Lakes As part of this mass appraisal process, all properties are re- valued annually based on the information on record. Properties are physically inspected and property records reviewed once every 5 years (as statutorily required). This is an ongoing process whereby 20% of a city is inspected each year so that in a cycle of 5 years all properties have been inspected at least once. In addition to this quintile review, properties are also inspected when there is a building permit issued or at the request of the property owner. The sale of a property does not initiate a reassessment. As stated earlier, Minnesota state law governs the assessment date, which is January 2nd of each year, as well as the sales periods associated with each assessment date. The 2009 assessment which will be used for tax calculations this year (2010) was based on transactions that closed between October 1, 2007 and September 30, 2008. Property owners were notified of their 2009 value on their Notice of Valuation and Classification. The notices were mailed out in March of 2009 in the same envelope as the 2009 tax statement. The appeals process took place at the municipal level during the month of April and at the county level in June. At this point, if a property owner wishes to appeal their 2009 assessment (for taxes payable 2010) their only option is to file a tax court petition. This must be done no later than April 30, 2010. The 2010 assessment has just been completed and Notices of Valuation and Classification were mailed the week of March 22nd. This is the assessment that will be used for tax calculations next year for taxes payable in 2011. The sales period associated with this assessment is October 1, 2008 thru September 30, 2009. As with past assessments, the local appeals process will begin in April and finish up in June. The options and requirements to appeal this assessment are listed on the back of the Notice of Valuation and Classification. If a property owner has an issue with their 2010 assessment the first thing they should do is contact their local assessor. Their phone number(s) is listed on their notice of valuation. As stated, all arms - length sales that closed between October 1, 2008 and September 30, 2009 have been used to determine valuations for the 2010 assessment, for tax payable in 2011. So to review, by the time you are paying your 1st half real estate tax on May 15th, the sales that were used to determine the estimated market value on which those taxes are based occurred somewhere between 19 to 31 months earlier. The following chart may be helpful in following the timeline of your assessment. October 1, 2007 to September 30, 2008 January 2, 2009 2010 October 1, 2008 to September 30, 2009 January 2, 2010 2011 October 1, 2009 to January 2, 2011 2012 September 30, 2010 4