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Anoka County City of Lino Lakes <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 done, <br />and the owners of property in Lino Lakes have been notified of any value change. Minnesota Statute <br />273.11 reads: "All property shall be valued at its market value." It further states that "In estimating <br />and determining such value, the Assessor shall not adopt a lower or different standard of value <br />because the same is to serve as a basis for taxation, nor shall the assessor adopt as a criterion <br />of value the price for which such property would sell at auction or at a forced sale, or in the <br />aggregate with all the property in the town or district; but the assessor shall value each article <br />or description of property by itself, and at such sum or price as the assessor believes the same <br />to be fairly worth in money." The Statute says all property shall be valued at market value, not may <br />be valued at market value. This means that no factors other than market factors should affect the <br />Assessor's value and the subsequent action by the Board of Appeal and Equalization. <br />8 <br />