Property Tax Question - Tax Value vs. Purchase Price

[Michael Tempel]

Does anyone know if the property tax rate is showing a higher rate than the amount of purchase if it should be reduced to the actual purchase price?   I haven't been able to get a good answer from the county and was hoping someone could give me a quick answer.

[John Woodrich]

You can appeal your assessed amount during a certain time period every year.  There are no guarantees that you will be successful which is why you aren't getting a good answer from the county.  As mentioned above, their values are estimates based on properties in the area.  If your assessment is too high, your neighbors and the entire area is also likely too high and the assessor probably already knows this.

Many cities and counties in MN have pushed through tax increases and imagine all the calls people would get if their value dropped and their taxes increase...  Some people think tax value holds weight but not many of us will price a property based on tax value.