This Notice provides property owners with information on the market value and classification of a property for the January 2, 2015 Assessment for Taxes Payable in 2016.
The Notice contains:
- Information on the market value and property classification(s) that will be used to calculate payable 2016 property taxes.
- Open Book/Preliminary Market Value Review meeting information such as location, dates and times. Meetings are an informal review process where you can discuss your value and/or classification with Ramsey County real estate appraisers.
- If you believe we have the value or classification of your property wrong, this is the easiest way to appeal your property value.
- Information on the Quintile Notice - Assessors Revaluation Requirement.
- Information on Informal and Formal Appeal Options.
- Explanations of the various definitions of values and exclusions, such as Homestead Market Value Exclusion, Disabled Veterans Exclusion and This Old House Exclusion.
Note: If you believe your estimated market value and property classification are correct, it is not necessary to contact your assessor or attend any meetings listed on your Notice.
- Property Identification Number (PIN) – 12-digit identification number unique to your property, such as 126.96.36.199.0001
- Property Address – street and city
- Tax Description – legal description of the property (may not be a complete legal).
The legislature has established a property tax structure where the portion of a property's value that will be used for taxing purposes varies by the use or type of property. It also has established specific benefits that apply to particular uses.
The statutory classification is assigned to your property based upon your use of the property. A change in classification of your property can have a significant impact on the amount of your property tax. Please compare the 2014 and 2015 classification(s) listed on the statement.
Definitions for the classifications that are most often asked about:
- Designated as RES HSTD
- Homestead property is owned and occupied as the primary residence of the owner. Homestead property receives a Homestead Market Value Exclusion - in other words, the Homestead property will be taxed based on a value that is less than the actual worth of the property.
- Designated as REL or RELATIVE HSTD
- A special type of homestead
- Relative homestead property is owned by someone who does not live in the property, but allows a qualifying relative to occupy the property as their primary residence. Relative homesteads receive the same homestead benefit as other homestead property, but are usually not eligible for property tax refund programs.
- Designated as QUAL 4D HOUSING
- The Legislature created a new property classification for 2007.
- The qualifications are slightly different than in past years.
- This property classification is for rental property that is certified by the Minnesota Housing Finance Agency as low-income housing.
- To receive this designation, at least 75% of the units in the rental housing property have to qualify as "low-income" as defined by Minnesota Statutes, § 273.128, subd. 1.
- If you do not have this designation and believe you should, additional information is available through the Minnesota Housing Finance Agency.
Property Valuation - Explanation of Property Valuation Terms:
Estimated Market Value
This is the assessor’s estimate of the value for which your property would likely sell for on the open market as of January 2 of the assessment year.
Value of New Improvements
This is the assessor’s estimate of the value of new or previously unassessed improvements you have made to your property.
Green Acres Value
Applies to Class 2a agricultural property that is facing increasing values due to development pressures not related to the agricultural value of the land. The assessor arrives at this lower value by looking at what comparable agricultural land is selling for in areas where there is no development pressure. The taxes on the higher value are deferred until the property is sold, transferred, withdrawn, or no longer qualifies for the program.
Applies to land that has been recently platted (divided into individual lots) but not yet improved with a structure.
- The increased market value due to platting is phased in over time.
- If construction begins, or if the lot is sold before expiration of the phase-in period, the lot will be assessed at full market value in the next assessment.
This Old House Exclusion
Some homestead properties may receive a lower taxable market value because of the “This Old House” program.
- Though this program expired with the 2003 assessment, some properties may still be receiving the value exclusion under this program.
- The program applied only to homestead property 45 years of age or older and valued at less than $400,000.
- Improvements that increased the estimated market value by $5,000 or more were eligible to have some of the value deferred for a maximum of 10 years.
- After ten years the amount of the qualifying value is added back as follows:
- 50 percent in the two subsequent assessment years if the qualifying value is equal to or less than $10,000 market value; or
- 20 percent in the five subsequent assessment years if the qualifying value is greater than $10,000 market value.
Disabled Veterans Homestead Market Value Exclusion
Qualifying disabled veterans may be eligible for full or partial valuation exclusion on their homestead property.
Homestead Market Value Exclusion
This value applies to residential homesteads and to the house, garage, and one acre of land on agricultural homesteads. The exclusion is a maximum of $30,400 at $76,000 of market value, and then decreases by nine percent for values over $76,000. The exclusion phases out for properties valued at $413,800 or more.
- This was enacted during the 2011 Special Session.
Taxable Market Value
This is the value that your property taxes are actually based on after all reductions, limitations, exemptions and deferrals. Your 2014 value, along with the class rate and the budgets of your local government, will determine how much you will pay in taxes in 2015.
- It may be less than the Estimated Market Value due to Exclusions, Green Acres or Plat Deferment.
Open Book - Preliminary Market Value Review Meeting
County Board of Appeal & Equalization - By Appointment Only
- Meeting dates, times and locations are listed on your notice.
Property and Assessment Information
Contact us via phone (651-266-2131) or e-mail (AskCountyAssessor@co.ramsey.mn.us) with property and assessment questions.
Quintile Notice: Assessors Revaluation Requirement
Minnesota Statutes, § 273.01 requires that your assessor view your property at least once every five years. A separate notice is not mailed prior to an inspection. Appraisal staff carries county identification and will request permission to view the interior and exterior of your property.
Appealing the Value or Classification of your property
If you have questions or disagree with the classification or estimated market value for your property for the 2013 Assessment, you have several Informal and Formal Appeal Options.
- Call the Assessor's Office (651-266-2131)
- Attend an Open Book Meeting
- County Board of Appeal and Equalization
- Minnesota Tax Court
See Important Appeal Information for more details.