04/13/2009 Council Packet - Laserfiche WebLink

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Anoka County City of Lino Lakes Appealing the value or classification of your property Informal appeal options - Contact your assessor If you have questions or disagree with the classification or estimated market value for your property for 2009, please ocintact your assessors office first to discuss your concerns. Often your issues can be resolved at this level. Contact information for your assessor's office is an the other side of this notice. Some jurisdictions choose to hold open took meetings to allow property owners to discuss their concerns with the assessor. tf this is an option available to you, the meeting time(sj and location(s) will be indicated on the other side of this notice. Formal appeal options If your questions or ooncems are not resolved after meeting with your assessor, you have two formal appeal options: Option 1 - The Boards of Appeal and Equalization You may appear before the Boards of Appeal and Equalization in person, through a letter, or through a representative authorized by you. The meeting times and locations are on the other side of this notice. You must have presented your case to the Local Board of Appeal and Equalization BEFORE appealing to the County Board of Appeal and Equalization. Step 1- Local Board of Appeal and Equalization If you believe your value or classification is incorrect, you may bring your case to the Local Board of Appeal and Equalization. Please contact your assessor's office for more information. If your city or township no longer has a Local Board of Appeal and Equalization (as indicated on the other side of this notice) you may appeal directly to the County Board of Appeal and Equalization. Step 2 - County Board of Appeal and Equalization If the Local Board of Appeal and Equalization did not resolve your concerns, you may bring your case to the County Board of Appeal and Equalization. You must call in advance to get on the agenda. Please contact the county assessor's office to get on the agenda or for more information. Option 2 - Minnesota Tax Court Depending on the type of appeal, you rnay take your case to either the Small Claims Division or the Regular Division of Tax Court. You have until April 30, 2010, to file an appeal with the Small Claims Division or the Regular Division of Tax Court for your 2009 valuation and classification. For more information, contact the Minnesota Tax Court: Phone: 651 - 296 -2806 or 1 -800 -627 -3529 website: www.taxcourt.state.mn.us Notice Concerning Property Classification - Changes made during the 2008 Legislative Session may have affected the classification of your property, although this may not result in a change in tax rates or homestead benefits. For addfional information concerning property's classification, contact your county assessors office or the Department of Revenue website at www.taxes.atate.mn.us. Definitions Estimated Market Value - This value is what the assessor estimates your property would likely set for on the open market. Value of New Improvements - This is the assessors estimate cf the value of new or previously unassessed improvements you have made to your property. These improvements are not eligible for limited market value. Limited Market Value - Because this provision resulted in unfair tax shifts and did not neoessarily keep property taxes from increasing, limited market value was not renewed after its expiration following the 2008 assessment. Green Acres -.Applies to productive agricultural property that is facing increasing values due to development pressures not related to the agricultural value of the land. The assessor arrives at this knver.vatue by looking at what comparable agricultural land is selling for in areas where there is no development pressure. The taxes on the higher value are deferred until the property is sold. transferred. withdrawn, or no longer qualifies for the program. Plat Deferment - For and that has been recently platted (divided into individual lots) but not yet improved with a structure, the increased market value due to platting is phased in over time. If construction begins, or if the lot is sold before expiration of phase -in period. the lot will be assessed at full market value in the next assessment, JOBZ - Qualifying businesses within a Job Opportunity Business Zone may be eligible for a partial property tax exclusion. Ole. Vets Homestead Market Value Exclusion - Quaifying veterans may be eligible for a valuation exclusion on their homestead property. This Old House Exclusion - This program expired with the 2003 assessment. However. property may still be receiving the value exclusion under this program It applied only to homestead property 45 years of age or older and valued at less than $400,000. Improvements that increased the estimated market value by $5,000 or more were eligible to have some of the value deferred for a maximum of 10 years. After this time, the deferred value is phased in. Taxable Market Value - This is the value that your property taxes are actually based on, after all reductions. exclusions. exemptions, and deferrals. Your 2009 value, along with the class rate and the budgets of your local government, will determine how much you viii pay in taxes in 2010. For more information on appeals, check ma the Depanrnenr of Revenue website: hrrp✓hares.state. mn. us