Property Valuation
Assessed value for Minnesota property taxes is typically:
AEqual to the appraised market value
BA percentage of estimated market value determined by the county assessor✓ Correct
CSet by the state legislature annually
DBased on the original purchase price
Explanation
In Minnesota, assessed value is the county assessor's estimate of market value used to calculate property taxes. It is typically close to estimated market value (100% in theory), though actual assessments may vary. The classification (homestead vs. non-homestead) affects the tax rate applied.
Related Minnesota Property Valuation Questions
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