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MD Notice of Your Property's 1999 Estimated Market Value <br /> This is not a bill <br /> Property Address Property I.D. Number <br /> RAMSEY COUNTY <br /> Taxpayer Property Class <br /> U <br /> U <br /> I <br /> I <br /> 1998 1999. <br /> Your Estimated Market Value <br /> IMPACT N YOUR PROPERTY E <br /> The 1999 estimatesfmarket value shown above is fhe value that welt affect the propeerty takes <br /> payable in 2000 <br /> What is Estimated Market Value?—The estimated market value is the assessor's estimate of what a <br /> property would sell for in an arm's length transaction. Market value is defined as the most probable price <br /> that a well-informed buyer would pay a well-informed seller for a property without either party being unduly <br /> pressured to buy or sell. State law requires assessors to value property at market value. <br /> What causes change in estimated market values? A property's value can change for many reasons. The <br /> most frequent cause of a change is due to economic and market conditions. The assessor's office studies <br /> these market conditions, and based on the characteristics of your property,the assessor estimates what your <br /> property would sell for on the open market. Property values do not necessarily change uniformly. <br /> If you believe your estimated market value and property class are correct, it is not necessary to <br /> contact us. <br /> Exemption for certain <br /> p improvements—It is commonly known as"This Old House", and it applies to homes <br /> 35 years of age, or older. To qualify,the property must be the applicant's homestead in the year the <br /> improvements were made. If you have additional questions on "This Old House", please call (651)266-2131. <br /> Preliminary Review—If you do not believe you could sell your property for the estimated market value <br /> shown above, please contact us. Our telephone number is(651) 266-2131. Or, you may visit us in person at <br /> 840 Ramsey County Government Center West, 50 West Kellogg Boulevard, Saint Paul. Often your <br /> questions can be addressed at this informal level. If changes are appropriate, we can make the corrections <br /> at that time. If we cannot satisfy your concerns, you may use the more formal review process. <br /> 16 <br />