| The
Assessor's duties and what they mean to you
What are the
Assessor's duties?
The office of the Assessor is responsible for discovering,
listing and valuing all taxable property, both real and personal,
for ad val orem tax purposes.
When
is the value of my property established?
The assessment date is January 2nd of each year and the assessor
determines a full or partial value of new construction, or improvements
depending upon the state of completion as of that date.
How
does the Assessor's office determine the value of my property?
Annual sales studies are used to analyze market conditions
to determine how the Assessor's estimated market value compares
to actual property sales. The Minnesota Department of Revenue
requires the Assessor's estimated market value to fall within
a range of 90% to105% of actual market value.
Will
Taxpayer Services notify me of my property value and what I
can do if I feel a mistake has been made?
After the assessment is completed notices are mailed to the
property owners, this notice will state the following:
1. Current estimated market value from January 2nd and
the prior
assessment year.
2. Limited market value for the current and prior assessment
year.
3. Classification of the property for the current and
prior year.
4. Taxable market value for the current and prior assessment
year.
5. Information for appealing the estimated market value
or classification if
you feel an error has been made on
your property record.
It is very important that the property owner review this notice.
The values stated on the notice will be used to calculate the
taxes payable in the following year. If you have any questions
or more information is desired, please feel free to contact
Taxpayer Services at 507-304-4251 or attend the Board of Appeal
and Equalization listed on your notice.
What
is homestead and what is needed to apply?
Homestead is a property tax reduction program, intended to
keep taxes lower on owner-occupied homes, according to Minnesota
Statute 273.124. In order to receive homestead exemption, you
must present proof of ownership, complete a homestead application
and provide the social security numbers of all owners.
You must be listed as the owner on county tax records.
Who qualifies?
Those who own and occupy their primary place of residence, including
manufactured homes qualify for homestead, including:
1. Owner-occupants.
2. Certain relatives of the owner.
The definition of "relative of the owner" includes a child, stepchild,
daughter-in-law, son-in-law, parent, stepparent, parent-in-law,
grandchild, grandparent, brother, brother-in-law, sister, sister-in-law,
aunt, uncle, nieces and nephews.
Members of family farm corporations.
Farm partnerships.
Applicants MUST be Minnesota residents.
When should you apply?
Within 30 days after you purchase and move into your home.
If you purchase and occupy by December 1st of any year, and
make application by December 15th, the following year's property
tax will reflect the homestead rates.
Where can I file?
IN PERSON:
Blue Earth County
Tax Payer's Services
Nichols Building -2nd floor
410 Jackson St.
Mankato, MN 56002
OR
Call Taxpayer Services requesting an application be sent to
you.
Why does it matter?
Property taxes are significantly lower on owner-occupied property
than they are on other residences, commercial property or apartments.
Are
there any 'special' homestead exemptions?
Yes, for blind or disabled persons or paraplegic veterans.
If all owners do not occupy the property, a partial homestead
exemption may be given.
What
about homestead for property owned by a trust?
Certain trusts can qualify for homestead. A Certificate
of Trust must be completed and approved by Taxpayer Services,
or the Trust must be provided for the Assessor's review.
Call Taxpayer Services for more information.
How often must I file?
Once, unless the Assessor mails a form to you. If you
receive an application, it is very important that you complete
it and return it to the address on the form.
Can
manufactured homes receive homestead exemption?
Yes. The owner/occupant must also apply, and meet the
requirements. (See homestead section).
Do 'Life
Estates' qualify for homestead?
Yes, as long as the Life Estate interest is shown on the deed,
and the holder of the Life Estate meets all the homestead requirements.
What is
"Green Acres"?
"Green Acres" is a tax deferral program for certain agricultural
property,
according to Minnesota Statute 273.111.
How do I qualify?
If you own agricultural property and that property is devoted
to the "production for sale of agricultural products", you may
be eligible for the "Green Acres" Program. The requirements
are:
The property must be used primarily for agricultural use.
The property must consist of at least ten tillable acres in
size.
The applicant must be able to verify an agricultural income
of at least $300 plus $10 per tillable acre.
The property must be homesteaded, farmed in conjunction with
the homestead property; or the property must have been in the
applicant's family for at least seven years.
"Green Acre" applications are made to, and approved by, Taxpayer Services. Proper documentation to verify agricultural income
must be submitted with the application. You may apply in person
or call Taxpayer Services for an application. Applications must
be received in Taxpayer Services by July 1st.
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