Minnesota property tax assessment bills go out every spring. There are three factors that affect the tax bill; the estimated market value of the property, the amount the local governments spend to provide services to the community and how the property is used.

Minnesota property assessors also provide a variety of other information to the potential investor besides just property tax records. They analyze the costs of building a new property, trends in property sales prices and the average expense for renting property. In addition, they handle ownership changes, up-to-date maps of property lines and property descriptions. It pays to get familiar with Minnesota property tax records because the records can help you:

1. Track property market trends by following the rise and fall of Minnesota property value.

2. Research potential investment properties using Minnesota property appraisal information.

3. Compare Minnesota property tax records to see if the assessment is fair.

Action Steps
The best contacts and resources to help you get it done

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.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Appeal an assessment to MN property assessors if you think it's way out of proportion. If they don't allow an informal hearing, file a grievance form.