Duties of the Assessor
Value and classification of real estate must be established on January 2nd each year.
Office staff, along with the independent licensed assessors that have been hired by individual taxing districts, visit properties to establish estimated market values.
Record data that may have an impact on market value, some examples include:
- Basement finish
- Extra features, such as fireplaces, walkout basements and any additional items that may add to value
Each year the assessor studies actual sales of all property types in each taxing district. Sales in a 12-month time period before the January 2nd assessment date(October 1st through September 30th) are reviewed to find out what properties have sold for on the open market. These sales are used as a guide to help determine what similar properties would likely sell for if they were placed on the open market. The State Board of Equalization requires the overall level of assessment to be between 90 to 105% of market value. Chippewa County consistently meets the State Board’s requirement.
The law specifically requires that assessors view each parcel of real estate to appraise its market value. Property values change continuously with changing economic conditions. In addition to market changes, numerous physical changes affect the value of land and buildings. All factors are considered in estimating the value of the property. MN Statute requires assessors to physically inspect each property every five years, at a minimum. Any property that had a building permit issued or has had changes is viewed when changes are being made/completed and its new value estimated for January 2nd.
Such changes include:
- Adding to or remodeling structures
- Draining and clearing the land
- Improving the adjacent public streets
- Installing utilities
The Assessor also determines the classification, or use, of each parcel. Each classification is taxed at a different percentage of market value.
For example, a property may be classified as:
- Residential (either homestead or non-homestead)
Appraisers employed by Chippewa County and the Local Taxing Districts are professionals, with stringent training and experience requirements set by the State Board of Assessors. The Minnesota State Board of Assessors governs and administers licensure of appraisers.