What is classification?

Classification is a definition of how the property is used, determined by its ownership and use. Classifications such as homestead, commercial, and agricultural describe the primary use of a property, and affect the amount of property tax paid. By state law, various classes of property are taxed at different rates. For example, two neighboring homes of equal value will be taxed at different rates if one is a homestead and one is a seasonal property. Class rates are created and defined by the Minnesota State legislature. New homeowners should contact their assessor to apply for homestead. For more information, contact the Assessor at 218-384-9149.

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1. What is the responsibility of the Assessor in the property tax system?
2. What is market value?
3. How does the Assessor determine the estimated market value?
4. Why has my value changed for year to year?
5. How can I judge the accuracy and fairness of my value and classification?
6. Does the estimated market value increase at the same rate on all properties?
7. Does an increase in market value mean that my taxes will increase?
8. Can the estimated market value change even if an appraiser has not been inside my property?
9. What is classification?