This 2022 Assessment Report is created to help understand the valuation process, sales analysis and appeals process. We have created this report for the property owners of Chisago County along with the Township Boards, City Councils and the County Board of Commissioners.
Minnesota statutes establish specific requirements for the ad valorem property tax system. This means that property taxes are based on the value of a property. Combined with the budgets of our local governments, taxes can be fairly and equitably calculated based on the value and classification of a property. It is critical of the Assessor’s Office to verify property information to make sure the valuation of a property is accurate.
In Minnesota, the market value of a property is defined as the usual selling price in a fair and open market with both buyer and seller acting in their best interest. Every property is assessed as of January 2nd each year. Our process has many components to ensure that the integrity of our values is fairly and equitably done. One part of our process is to visit every property once every five years. During this time, we are verifying measurements, condition, quality, depreciation, amenities, outbuildings, and land types, such as tillable, woods, waste. Another component of our process is sales verification. Every sale that occurs in Chisago County submits a Certificate of Real Estate Value (CRV). Information on the CRV helps us decide which sales were on the open market and sold for a fair market price versus properties that are banked owned or sold to relatives. Each year a sales ratio study is conducted; sales between October 1, 2020, and September 30, 2021, are used for the basis of adjustments for the January 2, 2022, assessment date. When our property data is accurate and sales are analyzed, we can make proper adjustments to all properties based on the market trends. Our goal is to assess each property fairly and equitably, so each property pays the appropriate amount of tax, no more, no less.
Each year property owners have the right and ability to appeal the estimated market value or classification of their property. In March, a Valuation and Classification Notice is mailed out. Important information like, estimated market value, classification, new improvements, if any, exclusions if the property qualifies for them, like homesteading and taxable market value are printed on the notice. If there are concerns about the information on the notice, the first step is to call the assessor’s office. Staff are available to answer questions or give information that helps you understand better. Most communities in Chisago County conduct a Local Board of Appeal and Equalization (LBAE). This meeting is to bring your concerns to your Local Government. If you attend the LBAE and still have concerns or questions, you may attend the County Board of Appeal and Equalization.
We hope you find the information in this report educational and useful. Our office is here to assist and partner with you, to make sure that your property is being fairly and equitably assessed.
Thank You!
Chisago County Assessor’s Office