Property Tax Valuation

If you own property in Minnesota, you should have recently received a truth-in-taxation form showing the assessed value of your property for taxes payable in 2024. If you think your property has been overvalued, you may have options to reduce it.

What is the Truth-in-Taxation Form?

The purpose of the truth-in-taxation notice is to enhance

Developers, real estate investors and business owners are appropriately focused on creating profit and high rates of return. Managing property taxes may not be a terribly high priority. However, property taxes are usually the most significant real estate expense incurred by real estate users and have a direct impact on profitability and rates of return.

Real estate buyers who purchase property from banks sometimes get the property for a price that seems below market. Assessors frequently dismiss these sales as “bank sales” and therefore irrelevant for property tax valuation. However, these apparent discounts can be the result of actual distress or market influences, rather than because the bank was under

Home improvement retailer, Menard’s, successfully lowered the value of its Moorhead store in tax court. When it pressed its position based only on sales of similar properties, the court replied that valuation is not that narrowly focused.  The appeal covered years 2011 through 2014 and the original value was $11,200,000 for each year. At tax

Institutional investors may expect an increase in real estate taxes when they acquire assets for historically high prices, but do those sales represent market value for property tax purposes? Moreover, should they be used to value more normal properties for property tax purposes?

Twin Cities commercial real estate has been experiencing substantial investment by real