Know the ins and outs of how Minnesota property assessors operate It pays to know how Minnesota property tax assessors determine land and property values. If you don't understand Minnesota property assessment, you may pay way too much for an investment property.

I recommend:  Bankrate.com explains how Minnesota property tax assessment is calculated; just click on the "Property" tab for more information. The Minnesota Revenue website helps you understand the property tax system and gives an explanation on how to read your property tax bill.

Obtain a Minnesota property assessment using online tools and records Minnesota property assessors make it easy to search through records because most post them in online databases and provide a variety of tools to help you search. Minnesota property values are public record and there are a number of free county databases, along with those you can subscribe to.

I recommend:  Searchsystems.net’s online database, DirectPass is a complete database of Minnesota property tax assessors. For around $5 a month you can browse property tax records by municipality. Intelius’ tracking tool provides property information for a small fee. Skipease is a free property owner search which provides specific links to property assessors in Minnesota.

Estimate your taxes based on similar Minnesota property value If you're buying an investment property that's similar to several others in the same vicinity, it's safe to assume that MN property assessors will assess your property at an amount close to what the neighbors will pay. Expect the taxes to be comparable unless there are vast discrepancies in the condition, age or size of the building or lot.

I recommend:  Get property tax information by simply typing in your neighbor's address or the address of an investment property into Assessor Links USA’s search tool, a free Minnesota property database. The Minneapolis City of Lakes Assessor's Office allows you to search online for sale properties. Several municipalities, including the Clay County Assessor's Office have information about the appeals process online.