HomeMy WebLinkAboutMay 1, 2006 Bioard of Review
590 40th Avenue N.E" Columbia Heights. MN 55421-3878 (763) 706-3600 TDD (763) 706-3692
Visit Our Website at: www.ci.co/u/llbia-heights./Illl.us
Mavor
Gary 1.. Peterson
Coulleilmembers
Robert A. Williams
Bruce Nawrocki
Tammera Ericson Die/un
Bruce Kelzenberg
City Mill\ager
H'alter R. Fehst
CITY OF COLUMBIA HEIGHTS
The following is the agenda for the BOARD OF REVIEW for the City of Columbia Heights City Council to be
held at 7:00 p.m. on Monday, May 1,2006 in the City Council Chambers, City Hall, 590 40th Avenue N.E.,
Columbia Heights, MN.
The City of Columbia Heights does not discriminate on the basis of disability in the admission or access to, or treatment or
employment in, its services, programs, or activities. Upon request, accommodation will be provided to allow individuals with
disabilities to participate in all City of Columbia Heights' services, programs, and activities. Auxiliary aids for disabled persons are
available upon request when the request is made at least 96 hours in advance. Please call the Deputy City Clerk at 763-706-3611,
to make arrangements. (TDD/706-3692 for deaf or hearing impaired only)
BOARD OF REVIEW
1. ROLL CALL
2. ST A TEMENT OF PURPOSE OF THE BOARD OF REVIEW
To review property valuations as of January 2, 2006 for taxes payable 2007, and to hear appeals from
citizens who feel aggrieved or have questions regarding property valuations.
3. INTRODUCTION
The City Manager will introduce the Anoka County Appraisers.
. Jim Rouleau - Senior and Commercial Appraiser
. Dan Stevenson, Residential Appraiser
4. QUSTIONS AND ANSWERS REGARDING PROPERTY VALUES
Citizens in attendance will be given an opportunity to raise questions regarding their property valuations.
5. COUNCIL ACTIONS REGARDING SPECIFIC CASES OR CASES ON WHICH ADDITIONAL
INFORMATION IS DESIRED
The Council may, at this time, take action regarding any of the properties that were discussed or instruct
the County Assessor's Office to provide more information at a continued meeting.
1) Recommended Motion: Move to adopt the 2006 Assessment Rolls as presented and amended.
2) Alternate Motion: Move to continue the Board of Review meeting to for
the purpose of hearing additional information regarding only those property values appealed
and discussed on May 1, 2006 and to consider adoption of the 2006 Property Assessment
Rolls.
6. Adjourn
WF/pvm
THE CITY OF COLUMBIA HEIGHTS DOES NOT DISCRIMINATE ON THE BASIS OF DISABILITY IN EMPLOYMENT OR THE PROVISION OF SERVICES
EQUAL OPPORTUNITY EMPLOYER
Assessment Report
ANOKA
COUNTY
2006 Local Board of
Appeal and Equalization
Anoka County
City of Columbia Heights
Table of Contents
Agenda........................................................................................................................ ..........................................1
Assessment Calendar .............................................................................................................................. ............2
The 2006 Assessment..................................................................................................................... .....................3
Quintile Map........................................................................................................................... ...............................4
Reassessment.................................................................................................................. ....................................5
Market Value........................................................................................................................ .................................5
Authority of the Local Board of Appeal and Equalization ....................................................................................6
Market Values........................................................................................... ............. .............. ...... ........................ 10
2006 Market Value by Property Class .............................................................................................................. 11
Residential Appraisal System................. ............................... ................................... ................ ......................... 12
Sales Studies .... .................................................. .... ............................. .............. ....................... ........ ................. 13
Sales Statistics Defined ..................................................................................................................................... 13
Current Sales Study Statistics .... ...... ......... ....... ...... .... ...... .............. .......... ......... ..... .......... ... ...................... ... ..... 14
2006 Anoka County Ratio Study ....................................................................................................................... 15
Residential Ratio by Zones................................................................................................................................ 16
Residential Tax Changes Examined.................................................................................................................17
ADDENDA...... ................... ......... ... ............... ...... ...... ....................... ...... .... ......... .... ................ ........... ...... ... .... .... 18
Statutes...................................................................................................................... ........................................ 19
Appraisal Terminology.................................................. ............................ .................. ......... .............................. 55
Appeals Procedure............................................................... ............................................... ..... ............. ............ 61
Sample Market Value Notice .............................
".....................................................................63
Minneapolis Area Association of Realtors@ 2005 Residential Real Estate Activity Report............................ 65
Anoka County City of Columbia Heights
2006 Board of Appeal and Equalization
Agenda
May 1, 2Ol3
1) Call the Board of Appeal and Equalization to Order
2) Roll Call
3) Read Official Notice of the Board of Review
4) Board Chairman (Mayor) explains purpose of the Board of Review - "The
purpose is to review market valuations as of January 2, 2006 that will be used
to compute the property taxes payable in 2007. This meeting is not for a
review of taxes that are being paid in 2006, which are based on the 2005
valuations. The Board may correct any erroneous valuation and add any
omission of properties or increase of value after due process. The total
decrease of valuations may not exceed one percent of the total valuation of
the taxing district."
5) Officially Receive Appeals - The Board will receive written appeals of
valuations from property owners. The secretary has recorded the required
information (name, mailing address, telephone number, and address of
property, etc.) After all notices are received and have been heard, the Board
directs the Assessor's Office to review the properties where information is
needed to make a decision.
6) Recess Meeting.
If needed, the meeting will be reconvened at a date to be determined. The Board of Appeal
and Equalization of any city, unless a longer period is approved by the Commissioner
of Revenue, must complete its work and adjourn within twenty days from the time of
convening specified in the notice of the clerk. No action taken subsequent to such
date shall be valid.
1
Anoka County
Assessment Calendar
2006
January 2
February 1
February 1
March 1
March 17
May 1
April 30
May 1
May 15
May 29
Mike Suther/and
May 30
June 19
July 1
July 1
August 15
August 31
September 1
October 15
November 15
December 15
City of Columbia Heights
2006 Market Values for Property Established
Final Day to Deliver Assessment Records to County
Final Day to File for an Exemption from Taxation
Final day to file for 1 b with Commissioner of Revenue
2006 Valuation Notices Mailed
Local Board of Appeal and Equalization
Final Day to File a Tax Court Petition for 2006 Assessment
Final day to file application for Green Acres
First Half Payable 2006 Taxes Due
Final Date for Manufactured homes assessed as personal
property to establish homestead
State Board of Equalization
County Board of Appeal and Equalization
2006 Assessment Finalized
Date by which taxable property becomes exempt
Final Day to File for 2006 Property Tax Refund
Final Day to Pay the First Half Manufactured Home Taxes
2006 Abstract to the Department of Revenue
Second Half Pay 2006 Taxes Due
Final Day to Mail 2007 Proposed Tax Notices
Final Day to File Homestead Application for 2006
2
Anoka County
The 2006 Assessment
City of Columbia Heights
The 2006 assessment should be a reflection of the 2005 market conditions.
Sales of property are constantly analyzed to chart the activity of the market place.
The Assessing staff does not create value; they only measure its movement.
Assessing property values equitably is part science, part judgment and part
communication skill. Training as an assessor cannot tell us how to find the
"perfect" value of a property, but it does help us consistently produce the same
estimate of value for identical properties. That after all, is the working definition of
equalization.
As of January 2, 2006, there were 7,639 parcels in the City. That is an increase
of 358 or 5% over the 2005 parcel count. This total includes:
.:. 6,844 residential parcels
.:. 287 exempt parcels
.:. 376 commercial and industrial parcels
.:. 132 apartment parcels
DISTRIBUTION BY PROPERTY TYPE
EXEMPT
3.76%
COMMERCIAL
INDUSTRIAL
4.92%
RESIDENTIAL j
89.59%
APARTMENT
1.73%
3
Anoka County
City of Columbia Heights
Current state law mandates that all property must be re-assessed each year and
physically reviewed once every five years. We also inspect all properties with new
construction each year. During 2005 there were over 1 ,646 properties reviewed
including 96 new homes built in 2005.
Here is a map illustrating the 2005 (2006 assessment for pay 2007) review area,
plus the planned review area for 2006 (2007 assessment for pay 2008).
City of Columbia Heights
22
23
24
34
27
2005 Re-AssessmentArea
2006 Projected Re-Assessment Area
D Section Lines
c
Pn:per:y ~e::-ords
4
Anoka County
Reassessment
City of Columbia Heights
State Statute reads: "All real property subject to taxation shall be
listed and reassessed every year with reference to its value on
January 2nd preceding the assessment." This has been done, and the
owners of property in Blaine have been notified of any value change.
Minnesota Statute 273.11 reads: "All property shall be valued at its
market value." It further states that "In estimating and determining
such value, the Assessor shall not adopt a lower or different
standard of value because the same is to serve as a basis for
taxation, nor shall the assessor adopt as a criterion of value the
price for which such property would sell at auction or at a forced
sale, or in the aggregate with all the property in the town or district;
but the assessor shall value each article or description of property
by itself, and at such sum or price as the assessor believes the
same to be fairly worth in money." The Statute says all property shall
be valued at market value, not may be valued at market value. This
means that no factors other than market factors should affect the
Assessor's value and the subsequent action by the Board of Appeal and
Equalization.
Market Value
Market value has been defined many different ways. One way used by
many appraisers is the following:
The most probable price that a property should bring in a competitive and
open market under all conditions requisite to a fair sale, the buyer and
seller each acting prudently and knowledgeably, and assuming the price
is not affected by any undue stimulus. Implicit in this definition is the
consummation of a sale as of a specified date and the passing of title
from seller to buyer under conditions whereby:
(1) buyer and seller are typically motivated:
(2) both parties are well informed or well advised, and acting in what
they consider their own best interests;
(3) a reasonable time is allowed for exposure in the open market;
(4) payment is made in terms of cash in U.S. dollars or in terms of
financial arrangements comparable thereto;
(5) the price represents the normal consideration for the property sold
unaffected by special or creative financing or sales concessions
granted by anyone associated with the sale.
5
Anoka County
City of Columbia Heights
Authority of the Local Board of Appeal and
Equalization
Assessments of property are made to provide the means for the
measuring of the relative share of each taxpayer in meeting the costs of
local government. It is the duty of the Assessor to assess all real and
personal property except that which is exempt or taxable under some
special method of taxation. If the burden of local government is to be
fairly and justly shared among the owners of all property of value, it is
necessary that all taxable property be listed on the tax rolls and that all
assessments be made accurately.
Whenever any property that should be assessed is omitted from the tax
rolls, an unfair burden falls upon the owners of all property that has been
assessed. If any property is undervalued in relation to the other property
on the assessment record, the owners of the other property are called
upon automatically to assume part of the tax burden that should be borne
by the undervalued property. Fairness and justice in property taxation
demands both completeness and equality in assessment.
Minnesota Statutes Section 274.01 provides that the council of each
city shall be or appoint a Board of Appeal and Equalization. The
charter of certain cities provides for the establishment of a Board of
Equalization. The provisions of Section 274.01 and this regulation apply
to all Boards of Appeal or Boards of Equalization.
The 2003 Legislature enacted State Statute 274.014 which requires that
there be at least one member at each meeting of a Local Board of Appeal
and Equalization (beginning with the 2006 local boards) who has
attended an appeals and equalization course developed or approved by
the Commissioner of Revenue within the last four years. (The member
must attend the course by no later than January' 1, 2006 and each year
thereafter. )
Section 274.01 states the county assessor shall fix a date for each Board
of Appeal and Equalization to meet for the purpose of reviewing the
assessment of property in its respective town or city. The county
assessor is required to serve written notice to the clerk of each of such
bodies on or before February 15th of each year.
These meetings are required to be held between April 1st and May 31st;
and the clerk of the Board of Appeal and Equalization is required to give
published and posted notice at least ten days before the date set for the
first meeting.
6
Anoka County
City of Columbia Heights
The Board of Appeal and Eaualization of any city. unless a lonaer
period is approved by the Commissioner of Revenue, must complete
its work and adiourn within twenty days from the time of convenina
specified in the notice of the clerk. No action taken subseauent to
such date shall be valid.
A request for additional time in order to complete the work of the Board of
Appeal and Equalization must be addressed to the Commissioner of
Revenue in writing. The Commissioner's approval is necessary to
legalize any procedure subsequent to the expiration of the twenty-day
period. The Commissioner of Revenue will not, however, extend the time
for local Boards of Appeal and Equalization to meet beyond the time
when the County Board of Equalization meets, which is the Final two
weeks of June.
The authority of the local Board extends over the individual assessments
of real and personal property. The Board does not have the power to
increase or decrease by percentage all of the assessments in the district
of a given class of property. Changes in aggregate assessments by
classes are made by the County Board of Equalization.
Although the Local Board of Appeal and Equalization has the authority to
increase or reduce individual assessments, the total of such adjustments
must not reduce the aggregate assessment made by the Assessor by
more than one percent of said aggregate assessment. If the total of such
adjustments does lower the aggregate assessment made by the
Assessor by more than one percent, none of the adjustments will be
allowed. This limitation does not apply, however, to the correction of
clerical errors or to the removal of duplicate assessments.
The Local Board of Appeal and Equalization does not have the
authority in any year to reopen former assessments on which taxes
are due and payable. The Board considers only the assessments
that are in process in the current year. Adjustment can be made
only by the process of abatement or by legal action.
In reviewing the individual assessments, the Board may find instances of
undervaluation. Before the Board can raise the market value of
property it must notify the owner. The law does not prescribe any
particular form of notice except that the person whose property is to be
increased in value must be notified of the intent of the Board to make the
increase. The Local Board of Appeal and Equalization meetings assure a
property owner an opportunity to contest any other matter relating to the
taxability of their property. The Board is required to review the matter and
make any corrections that it deems just.
7
Anoka County
City of Columbia Heights
When a Local Board of Appeal and Equalization convenes, it is necessary
that a majority of the members be in attendance in order that any valid
action may be taken. The local assessor is required by law to be present
with his/her assessment books and papers. He/she is required also to
take part in the proceedings but has no vote. In addition to the local
assessor, the county assessor or one of his/her assistants is required to
attend. The Board should proceed immediately to review the
assessments of property. The Board should ask the local assessor and
county assessor to present any tables that have been prepared, making
comparisons of the current assessments in the district. The county
assessor is required to have maps and tables relating particularly to land
values for the guidance of Boards of Appeal and Equalization.
Comparisons should be presented of assessments of types of property
with previous years and with other assessment districts in the same
county.
It is the primary duty of each Board of Appeal and Equalization to
examine the assessment record to see that all taxable property in the
assessment district has been properly placed upon the list and valued by
the assessor. In case any property, either real or personal, has been
omitted; the Board has the duty of making the assessment.
The complaints and objections of persons who feel aggrieved with any
assessments for the current year should be considered very carefully by
the Board. Such assessments must be reviewed in detail and the Board
has the authority to make corrections it deems to be just. The Board may
recess from day to day until all cases have been heard. If complaints are
received after the adjournment of the Board of Appeal and Equalization
they must be handled on the staff level; as a property owner cannot
appear before a higher board unless he or she has first appeared at
the lower board levels.
Pursuant to Minnesota Statute 274.01: The Board may not make an
individual market value adjustment or classification change that would
benefit the property in cases where the owner or other person having
control over the property will not permit the assessor to inspect the
property and the interior of any buildings or structures.
A non-resident may file written objections to his/her assessment with the
county assessor prior to the meeting of the Board of Appeal and
Equalization. Such objections must be presented to the Board for
consideration while it is in session.
8
Anoka County
City of Columbia Heights
Before adjourning, the Board of Appeal and Equalization should cause
the record of the official proceedings to be prepared. The law requires
that the proceedings be listed on a separate form which is appended to
the assessment book. The assessments of omitted property must be
listed in detail and all assessments that have been increased or
decreased should be shown as prescribed in the form. After the
proceedings have been completed, the record should be signed and
dated by the members of the Board of Appeal and Equalization. It is the
duty of the county assessor to enter changes by Boards of Appeal and
Equalization in the assessment book of each district.
The Local Board of Appeal and Equalization has the opportunity of
making a great contribution to the equality of all assessments of property
in a district. No other agency in the assessment process has the
knowledge of the property within a district that is possessed jointly by the
individual members of a Board of Appeal and Equalization. The County
or State Board of Equalization cannot give the detailed attention to
individual assessments that is possible in the session of the Local Board.
The faithful performance of duty by the Local Board of Appeal and
Equalization wi!! make a direct contribution to the attainment of equality in
meeting the costs of providing the essential services of local government.
The 2006 assessment should be a reflection of the 2005 market conditions.
Sales of property are constantly analyzed to chart the activity of the market
place.
9
Anoka County
Market Values
City of Columbia Heights
After thorough studies of the sales in the market place are conducted, we
establish the assessed value of all real property. During the 2005 study period,
we recorded 10,047 sales countywide, of which we considered 5,632 "arms-
length" sales.
In accordance with the results of these sales studies, certain areas of the city and
certain styles and grades of homes may have been adjusted in value, either lower
or higher than the previous year's value. This will more properly reflect current
market trends.
The 2006 assessment that is up for your review has a total unaudited assessed
value of $1,410,731,200, excluding exempt, forfeit and utility property. It reflects
an approximate valuation increase of 8% over the 2005 assessment.
The pattern of growth (including new construction) in the City's total value can be
seen in the following list of assessment years:
GROWTH IN ESTIMATED MARKET VALUES BY PROPERTY TyPE
2004 TO 2006 ASSESSMENT YEARS
PROPERTY TYPE
Apartment
Commercial Industrial
Residential
Total
FOR TAXES PAYABLE 2005 TO 2007
2004 PAY 2005 2005 PAY 2006 2006 PAY 2007
ESTIMATED MARKET V ALU E
$84,790,800 $97,710,100
$88,686,000 $95,810,900
$1,033,871,900 $1,113,468,500
$1,207,348,700 $1,306,989,500
$100,627,000
$99,179,400
$1,210,924,800
$1,410,731,200
GROWTH IN ESTIMATED MARKET VALUE BY PROPERTY TYPE
$1,250,000,000
:l:
... $1,000,000,000
:)
0
II:
(!J $750,000,000
I.l.I
::l
...I $500,000,000
c
:>
$250,000,000
$0
2005
2006
2007
TAX PAYABLE YEAR
Apartment Commercial Industrial Residential
10
Anoka County
City of Columbia Heights
2006 Market Value by Property Class
A more detailed breakdown of the 2006 assessment is presented below:
NET CHANGE IN ESTIMATED MARKET VAlUE FOR TAXABLE PROPERTIES
ASSESSMENT YEAR 2005 2006 2006 2006 2006 2006
TAX PAYABLE YEAR 2006 2007 2007 2007 2007 2007
GROSS EST GROSS EST GROSS NEW NET EST NET
MARKET MARKET PERCENT IMPROVEMENT MARKET PERCENT OF
VALUE VALUE OF VALUE VALUE CHANGE
CHANGE (NOT INCLUDING NEW IMPROVEMENT VAlUE)
PROPERTY TYPE
Apartment $97,710,100 $100,627,000 2.99Yo $0 $100,627,000 2.99Yo
Cornmerciallndustrial $95,810,900 $99,179,400 3.52% $478,60] $98,700,800 3.02%
Residential $1,113,468,500 $1,210,924,800 8.75% $22,403,000 $1,188,521,800 6.74%
Total $1,306,989,500 $1,410,731,200 7.94% $22,881,600 $1,387,849,600 6.19%
DISTRIBUTION OF VALUE BY PROPERTY TYPE
Apartment
7.13%
Residential
85.84%
Commercial
Industrial
'7 (no/
I.V,J/O
11
Anoka County City of Columbia Heights
Residential Appraisal System
Per State Statute, each property must be physically inspected and
individually appraised once every five years. For this individual appraisal, or
in the event of an assessed value appeal, we use two standard appraisal
methods to determine and verify the estimated market value of our residential
properties:
1. First, an appraiser inspects each property to verify data. If we are unable
to view the interior of a home on the first visit, a tag is left requesting a
return telephone call from the owner to schedule this inspection. Interior
inspections are necessary to confirm our data on the plans and
specifications of new homes and to determine depreciation factors in
older homes.
2. To calculate the estimated market value from the property data we use a
Computer Assisted Mass Appraisal (CAMA)
system based on a reconstruction less
depreciation method of appraisal. The cost
variables and land schedules are developed
through an analysis of stratified sales within the
city. This method uses the "Principle of
Substitution" and calculates what a buyer would
have to pay to replace each home today less age
dependent depreciation.
3. A comparative market analysis is used to verify these estimates. The
properties used for these studies are those that most recently have sold
and by computer analysis, are most comparable to the subject property
taking into consideration construction quality, location, size, style, etc.
The main point in doing a market analysis is to make sure that you are
comparing "apples with apples". This will make the comparable
properties "equivalent to" the subject property and establish a probable
sale price of the subject.
These three steps give us the information to verify assessed value or to adjust it if
nec.essary. The following pages contain an example of the appraisal information
for one property. They include data calculations, plan sketch, photo, comparative
analysis, and photos and a map of comparable properties.
12
Anoka County
City of Columbia Heights
Sales Studies
According to State Law, it is the assessor's job to appraise all real property at
market value for property tax purposes. As a method of checks and balances,
the Department of Revenue uses statistics and ratios relating to assessed market
value and current sale prices to confirm that the law is upheld. Assessors use
similar statistics and sales ratios to identify market trends in developing market
values.
A sales ratio is obtained by comparing the assessor's market value to the
adjusted sales price of each property sold in an arms-length transaction within a
fixed period. An "arms-length" transaction is one that is generated after a
property has had sufficient time on the open market, between both an informed
buyer and seller with no undue pressure on either party. The median or mid-point
ratios are calculated and stratified by property classification.
-
100%
~
The only perfect assessment would have a 100% ratio for every sale. This is of
course, impossible. Because we are not able to predict major events that may
cause significant shifts in the market, the state allows a 15% margin of error.
The Department of Revenue adjusts the median ratio by the percentage of
growth from the previous year's abstract value of the same class of property
within the same jurisdiction. This adjusted median ratio must fall between 90%
and 105%. Any deviation will warrant a state mandated jurisdiction-wide
adjustment of at least 5%. To avoid this increase, the Anoka County Assessor
requests a median sales ratio of 94.5%.
In Anoka County, we have the ability to stratify the ratios by style, age, quality of
construction, size, land zone and value. This assists us in appraising all of our
properties closer to our goal ratio.
Sales Statistics Defined
In addition to the median ratio, we have the ability to develop other statistics to
test the accuracy of the assessment. Some of these are used at the state and
county level also. The primary statistics used are:
13
Anoka County
City of Columbia Heights
Aggregate Ratio: This is the total market value of all sale properties divided by
the total sale prices. It, along with the mean ratio, gives an idea of our
assessment level. Within the city, we constantly try to achieve an aggregate
and mean ratio of 94% to 95% to give us a margin to account for a fluctuating
market and still maintain ratios within state mandated guidelines.
Mean Ratio: The mean is the average ratio. We use this ratio not only to watch
our assessment level, but also to analyze property values by development,
type of dwelling and value range. These studies enable us to track market
trends in neighborhoods, popular housing types and classes of property.
Coefficient of Dispersion (COD): The COD measures the accuracy of the
assessment. It is possible to have a median ratio of 93% with 300 sales, two
ratios at 93%, 149 at 80% and 149 at 103%. Although this is an excellent
median ratio, there is obviously a great inequality in the assessment. The
COD indicates the spread of the ratios from the mean or median ratio.
The goal of a good assessment is a COD of 10 to 20. A COD under 10 is
considered excellent and anything over 20 will mean an assessment review
by the Department of Revenue.
Price Related Differential (PRO): This statistic measures the equality between
the assessment of high and low valued property. A PRO over 100 indicates a
regressive assessment, or the lower valued properties are assessed at a
greater degree than the higher. A PRO of less than 100 indicates a
progressive assessment or the opposite. A perfect PRO of 100 means that
both higher and lower valued properties are assessed exactly equal.
Current Sales Study Statistics
The following statistics are based upon ratios calculated using 2006 pay 2007
market values and 2005 sales. These are the ratios that our office uses for
citywide equalizations, checking assessment accuracy, and predicting trends in
the market.
2006 Anoka County
Residential Sales Ratio
Statistics
Median Ratio
Aggregate Ratio
Mean Ratio
COO on Median
PRO
94.54
94.33
95.23
6.34
101
14
Anoka County City of Columbia Heights
2006 Anoka County Ratio Study
Residential Single Family Sales Ratio History
1997-2006
Assessment Year 1997 1998 1999 2000 2001
Municipality # Median Cooff # Median Cooff # Median Cooff # Median Cooff # Median Coeff
Andover 465 94.4 5.6 448 94.5 5.2 458 94.3 5.8 722 94.5 4.9 565 94.3 7.1
Anoka 249 94.4 5.9 207 94.3 6.2 240 94.4 6.2 218 94.5 7.5 204 94.4 7.2
Bethel 9 92.0 6.4 5 94.4 8.6 5 94.4 7.2 7 94.5 5.2 3 94.3 1.8
Blaine 545 94.4 4.6 583 94.3 4.3 810 94.3 4.2 859 94.4 4.7 713 94.4 5.1
Burns 34 94.5 7.3 21 94.4 6.3 29 94.5 3.1 48 94.4 4.6 48 94.4 10.4
Centerville 39 94.4 5.3 53 94.3 5.2 96 94.4 3.5 92 94.4 5.8 53 94.4 5.0
Circle Pines 43 94.7 4.0 50 94.3 4.3 53 94.4 4.4 61 94.5 3.4 58 94.3 6.9
Columbia Heights 240 94.3 7.4 208 94.3 7.2 225 94.3 5.6 232 94.5 6.8 228 94.3 8.2
Columbus 41 94.4 6.9 40 94.7 7.1 34 94.4 5.6 31 94.5 9.9 27 94.4 7.9
Coon Rapids 729 94.4 4.8 733 94.3 4.7 799 94.3 5.1 947 94.4 6.0 790 94.4 6.3
East Bethel 168 94.4 6.4 168 94.4 6.4 189 94.3 6.7 174 94.4 5.9 208 94.4 5.9
Fridley 256 94.3 5.8 248 94.4 6.2 293 94.3 5.6 274 94.4 7.8 242 94.4 7.0
Ham Lake 196 94.4 5.7 178 94.5 5.7 199 94.3 5.0 227 94.4 5.3 225 94.4 5.7
Hilltop 0 0.0 0.0 1 95.3 0.0 1 94.2 0.0 0 0.0 0.0 0 0.0 0.0
Lexington 15 94.4 5.2 15 94.2 3.6 14 94.4 4.5 21 94.5 4.4 17 94.4 7.5
Lino Lakes 277 94.4 5.0 296 94.4 4.6 305 94.3 4.9 324 94.4 4.6 295 94.4 5.4
Linwood 67 94.5 6.2 64 94.0 7.5 76 94.4 5.6 82 94.4 5.7 50 94.4 6.6
Oak Grove 66 94.5 5.4 81 94.5 5.5 79 94.5 4.2 111 94.5 4.8 85 94.4 6.6
Ramsey 379 94.4 5.4 367 94.6 4.7 458 94.4 5.0 407 94.5 4.1 318 94.4 5.9
Spring Lake Park 67 94.4 4.8 82 94.2 5.0 75 94.5 4.4 81 94.5 6.0 63 94.4 6.0
S1. Francis 56 94.6 3.9 59 94.5 4.2 78 94.5 3.6 182 94.4 3.7 107 94.4 6.1
County Total 3,941 94.4 5.4 3,907 94.4 5.2 4,516 94.4 5.2 5,100 94.4 5.4 4,299 94.4 6.1
Price Related
Differential 101 100 100 100 100
Assessment Year 2002 2003 2004 2005 2006
Municipality # Median Cooff # Median Cooff # Median Coeff # Median Cooff # Median Cooff
Andover 683 94.6 7.6 531 94.6 3.2 479 94.4 3.6 591 95.4 23.6 550 94.5 4.2
Anoka 206 94.5 6.2 233 94.5 5.6 213 94.5 5.4 330 94.4 6.8 257 94.9 7.1
Bethel 8 94.5 2.0 8 94.3 5.4 7 94.4 2.4 23 99.9 27.7 8 94.5 7.4
Blaine 906 94.5 6.7 845 94.5 4.9 900 94.4 5.4 1428 95.7 17.6 1007 94.4 5.5
Bums 45 94.4 8.7 50 94.4 8.4 77 94.5 9.2 91 95.2 51.8 44 94.2 5.2
Centerville 82 94.5 5.8 77 94.5 6.4 74 94.3 5.5 106 93.7 9.1 84 94.7 6.3
Circle Pines 54 94.5 6.5 58 94.5 7.2 52 94.4 4.1 174 94.6 7.5 91 94.6 4.8
Columbia Heights 255 94.4 7.3 263 94.4 7.0 255 94.3 7.0 383 91.9 11.5 380 94.6 8.3
Columbus 44 94.2 7.5 32 94.6 7.4 27 94.2 6.7 40 93.3 9.3 29 99.8 18.2
Coon Rapids 811 94.5 5.4 801 94.4 5.5 793 94.4 5.4 1488 94.3 36.6 1268 94.5 5.8
East Bethel 186 94.5 8.1 139 94.6 7.3 169 94.7 7.4 202 92.0 13.8 176 95.7 17.7
Fridley 259 94.4 7.2 260 94.5 6.1 290 94.5 6.5 441 98.0 7.7 429 94.7 8.4
Ham Lake 267 94.5 7.8 208 94.4 7.0 232 94.3 5.4 312 97.0 43.4 191 94.5 6.4
Hilltop 0 0.0 0.0 0 0.0 0.0 0 0.0 0.0 3 93.0 18.1 3 93.0 1.4
Lexington 12 93.8 4.9 21 94.5 4.9 14 94.6 4.1 23 95.2 7.9 30 94.3 7.2
Lino Lakes 402 94.4 8.8 329 94.4 7.4 264 94.4 7.1 284 92.5 17.6 276 94.6 6.5
Linwood 64 94.4 7.2 86 94.5 7.1 66 94.4 7.4 75 94.3 23.5 68 94.4 9.3
Oak Grove 100 94.4 9.2 116 94.4 8.5 109 94.6 6.4 129 97.0 11.8 116 94.9 8.4
Ramsey 339 94.4 6.3 308 94.4 6.0 351 94.4 6.6 561 95.7 13.7 379 94.6 6.7
Spring Lake Park 91 94.5 5.9 77 94.5 4.4 71 94.4 4.3 112 94.9 6.4 87 94.5 8.8
S1. Francis 157 94.4 7.2 155 94.5 5.9 250 94.4 5.0 203 96.9 31.7 158 94.7 4.3
County Total 4,971 94.4 6.8 4,597 94.5 5.9 4,693 94.4 5.7 7,000 95.2 21.7 5,632 94.5 6.3
Price Related
Differential 101 101 101 111 101
15
Anoka County
City of Columbia Heights
2006 Columbia Heights Residential Ratio by Neighborhood
NEIGHBORHOOD ' MEDIAN RATIO I COD ON MEDIAN i NO OF SALES
CH01-1 94.46 I 6.6 I 81
CH01- 2 I 94.36 I 11.1 I 19
CH01-3 I 94.45 10.1 109
CH01-4 I 97.27 9.5 34
CH01-5 ! 94.52 8.7 91
CH01-6 80.23 0.0 1
CH01-7 94.53 3.8 22
CH01-8 I 94.82 3.7 14
CH01-9 I 94.58 4.5 i 9
TOTAL
94.57
8.4
380
Columbia Heights Residential Neighborhoods
Neighborhood Code
CH01-1
CH01-2
CH01-3
CH01-4
CH01-5
CH01-6
CH01-7
CH01-8
CH01-9
Neighborhood Description
1950-1960 BUILT MIDSIZE LOTS WEST OF CENTRAL
DOUBLES
SMALL LOTS OLDER HOMES
COLUMBIA HGTS LAND ZONE 4
LARGER LOTS EAST OF CENTRAL
LAKESHORE
HIGHLAND LAKE
MATHAI RE
INNSBRUCK
16
Anoka County
City of Columbia Heights
Residential Tax Changes Examined
Although the Assessor's Office is considered by many to be the primary reason for any
property tax changes there are actually several elements that can contribute to this change,
including, but not limited to:
· Changes in the approved levies of individual taxing jurisdictions.
. Bond referendum approvals.
· Tax rate changes approved by the State Legislature.
. Changes to the homestead credit, educational credits and agricultural aid.
. Changes in assessed market value.
. Changes in the classification of the property.
A combination of any of these factors can bring about a change in the annual property tax bill.
If you have questions, please call 763-323-5400.
11
Anoka County
City of Columbia Heights
ADDENDA
18
Anoka County
Statutes
Minnesota State Statute 273.11
Minnesota State Statute 273.121
Minnesota State Statute 273.13
Minnesota State Statute 274.01
Minnesota State Statute 274.014
City of Columbia Heights
Valuation of Property
Valuation of Real Property Notice
Classification of Property
Board of Appeal and Equalization
Local Boards; Appeals and Equalization Course and Meeting
Requirements
19
Minnesota Statutes 2005, 273.11
Page 1 of 14
Minnesota
Oftl.ce of the Revisor of Statutes
Legisl.3ture HOH1E> I Unks to the \Nodd J Help! Advan
--.
.
House I Se,nate l
Depart.ments
Minnesota Statutes 2005, 273.11
Comrnlssions 1 8ll!
Status ~ StatutBs~ Laws~ and Ru~es
Copyright 2005 by the Office of Revisor of Statutes, State of Minnesota.
Minnesota ;:;tatutes 2005, Table Of Chapters
Table of contents for Chapter 273
273.11 Valuation of property.
Subdivision 1. Generally. Except as provided in this
section or section 273.17, subdivision 1, all property shall be
valued at its market value. The market value as determined
pursuant to this section shall be stated such that any amount
under $100 is rounded up to $100 and any amount exceeding $100
shall be rounded to the nearest $100. In estimating and
determining such value, the assessor shall not adopt a Iower or
different standard of value because the same is to serve as a
basis of taxation, nor shaI1 the assessor adopt as a criterion
of value the price for which such property would sell at a
forced sale, or in the aggregate with all the property in the
town or district; but the assessor shall value each article or
description of property by itself, and at such sum or price as
the assessor believes the same to be fairly worth in money. The
assessor shall take into account the effect on the market value
of property of environmental factors in the vicinity of the
property. In assessing any tract or lot of real property, the
value of the land, exclusive of structures and improvements,
shall be determined, and also the value of all structures and
improvements thereon, and the aggregate value of the property,
including all structures and improvements, excluding the value
of crops growing upon cultivated land. In valuing real property
upon which there is a mine or quarry, it shall be valued at such
price as such property, including the mine or quarry, would sell
for at a fair, voluntary sale, for cash, if the material being
mined or quarried is not subject to taxation under section
298.015 and the mine or quarry is not exempt from the general
property tax under section 29~25. In valuing real property
which is vacant, platted property shall be assessed as provided
in subdivision 14. All property, or the use thereof, which is
taxable under section 272.01, subdivision 2, or , shall be
valued at the market value of such property and not at the value
of a leasehold estate in such property, or at some lesser value
than its market value.
Subd. 1a. Limited market value. In the case of all
property classified as agricultural homestead or nonhomestead,
residential homestead or nonhomestead, timber, or noncommercial
seasonal residential recreational, the assessor shall compare
the value with the taxable portion of the value determined in
the preceding assessment.
For assessment years 2004, 2005, and 2006, the amount of
the increase shall not exceed the greater of (1) 15 percent of
the value in the preceding assessment, or (2) 25 percent of the
difference between the current assessment and the preceding
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Minnesota Statutes 2005,273.11
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assessment.
For assessment year 2007, the amount of the increase shall
not exceed the greater of (1) 15 percent of the value in the
preceding assessment, or (2) 33 percent of the difference
between the current assessment and the preceding assessment.
For assessment year 2008, the amount of the increase shall
not exceed the greater of (1) 15 percent of the value in the
preceding assessment, or (2) 50 percent of the difference
between the current assessment and the preceding assessment.
This limitation shall not apply to increases in value due
to improvements. For purposes of this subdivision, the term
"assessment" means the value prior to any exclusion under
subdivision 16.
The provisions of this subdivision shall be in effect
through assessment year 2008 as provided in this subdivision.
For purposes of the assessment/sales ratio study conducted
under section 127A.48, and the computation of state aids paid
under chapters 122A, 123A, 123B, 124D, 125A, 126C, 127A, and
477A, market values and net tax capacities determined under this
subdivision and subdivision 16, shall be used.
Subd. 2. Repealed, 1979 c 303 art 2 s 38
Subd. 3. Repealed, 1975 c 437 art 8 s 10
Subd. 4. Repealed, 1976 c 345 s 3
Subd. 5. Boards of review and equalization.
Notwithstanding any other provision of law to the contrary, the
limitation contained in subdivisions 1 and 1a shall also apply
to the authority of the local board of review as provided in
section ~~.01, the county board of equalization as provided in
section 274.13, the State Board of Equalization and the
commissioner of revenue as provided in sections
subdivision 1, 270.1l, 270C:92, and 270C.94.
Subd 6. Solar, wind, methane gas systems. For
purposes of property taxation, the market value of real and
personal property installed prior to January 1, 1984, which is a
solar, wind, or agriculturally derived methane gas system used
as a heating, cooling, or electric power source of a building or
structure shall be excluded from the market value of that
building or structure if the property is not used to provide
energy for sale.
Subd. 6a. Fire-safety sprinkler systems. For
purposes of property taxation, the market value of automatic
fire-safety sprinkler systems installed in existing buildings
after January 1, 1992, meeting the standards of the Minnesota
Fire Code shall be excluded from the market value of (1)
existing multifamily residential real estate containing four or
more units and used or held for use by the owner or by the
tenants or lessees of the owner as a residence and (2) existing
real estate containing four or more contiguous residential units
for use by customers of the owner, such as hotels, motels, and
lodging houses and (3) existing office buildings or mixed use
commercial-residential buildings, in which at least one story
capable of occupancy is at least 75 feet above the ground. The
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Minnesota Statutes 2005, 273.11
Page 3 of 14
market value exclusion under this section shall expire if the
property is sold.
Subd. 7. Repealed, 1984 c 502 art 3 s 36
Subd. 8. Limited equity cooperative apartments.
the purposes of this subdivision, the terms defined in
subdivision have the meanings given them.
For
this
A "limited equity cooperative" is a corporation organized
under chapter 308A or 308B, which has as its primary purpose the
provision of housing and related services to its members which
meets one of the following criteria with respect to the income
of its members: (1) a minimum of 75 percent of members must
have incomes at or less than 90 percent of area median income,
(2) a minimum of 40 percent of members must have incomes at or
less than 60 percent of area median income, or (3) a minimum of
20 percent of members must have incomes at or less than 50
percent of area median income. For purposes of this clause,
"member income" shall mean the income of a member existing at
the time the member acquires cooperative membership, and median
income shall mean the St. Paul-Minneapolis metropolitan area
median income as determined by the united States Department of
Housing and Urban Development. It must also meet the following
requirements:
(a) The articles of incorporation set the sale price of
occupancy entitling cooperative shares or memberships at no more
than a transfer value determined as provided in the articles.
That value may not exceed the sum of the following:
(1) the consideration paid for the membership or shares by
the first occupant of the unit, as shown in the records of the
corporation;
(2) the fair market value, as shown in the records of the
corporation, of any improvements to the real property that were
installed at the sole expense of the member with the prior
approval of the board of directors;
(3) accumulated interest, or an inflation allowance not to
exceed the greater of a ten percent annual noncompounded
increase on the consideration paid for the membership or share
by the first occupant of the unit, or the amount that would have
been paid on that consideration if interest had been paid on it
at the rate of the percentage increase in the revised Consumer
Price Index for All Urban Consumers for the Minneapolis-St. Paul
metropolitan area prepared by the United States Department of
Labor, provided that the amount determined pursuant to this
clause may not exceed $500 for each year or fraction of a year
the membership or share was owned; plus
(4) real property capital contributions shown in the
records of the corporation to have been paid by the transferor
member and previous holders of the same membership, or of
separate memberships that had entitled occupancy to the unit of
the member involved. These contributions include contributions
to a corporate reserve account the use of which is restricted to
real property improvements or acquisitions, contributions to the
corporation which are used for real property improvements or
acquisitions, and the amount of principal amortized by the
corporation on its indebtedness due to the financing of real
property acquisition or improvement or the averaging of
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Mim1esota Statutes 2005, 273.11
Page 4 of 14
principal paid by the corporation over the term of its real
property-related indebtedness.
(b) The articles of incorporation require that the board of
directors limit the purchase price of stock or membership
interests for new member-occupants or resident shareholders to
an amount which does not exceed the transfer value for the
membership or stock as defined in clause (a).
(c) The articles of incorporation require that the total
distribution out of capital to a member shall not exceed that
transfer value.
(d) The articles of incorporation require that upon
liquidation of the corporation any assets remaining after
retirement of corporate debts and distribution to members will
be conveyed to a charitable organization described in section
501 (c) (3) of the Internal Revenue Code of 1986, as amended
through December 31, 1992, or a public agency.
A "limited equity cooperative apartment" is a dwelling unit
owned by a limited equity cooperative.
"Occupancy entitling cooperative share or membership" is
the ownership interest in a cooperative organization which
entitles the holder to an exclusive right to occupy a dwelling
unit owned or leased by the cooperative.
For purposes of taxation, the assessor shall value a unit
owned by a limited equity cooperative at the lesser of its
market value or the value determined by capitalizing the net
operating income of a comparable apartment operated on a rental
basis at the capitalization rate used in valuing comparable
buildings that are not limited equity cooperatives. If a
cooperative fails to operate in accordance with the provisions
of clauses (a) to (d), the property shall be subject to
additional property taxes in the amount of the difference
between the taxes determined in accordance with this subdivision
for the last ten years that the property had been assessed
pursuant to this subdivision and the amount that would have been
paid if the provisions of this subdivision had not applied to
it. The additional taxes, plus interest at the rate specified
in section 549.09, shall be extended against the property on the
tax list for the current year.
Subd. 9. Condominium property. Notwithstanding any
other provision of law to the contrary, for purposes of property
taxation, condominium property shall be valued in accordance
with this subdivision.
(a) A structure or building that is initially constructed
as condominiums shall be identified as separate units after the
filing of a declaration. The market value of the residential
units in that structure or building and included in the
declaration shall be valued as condominiums.
(b) When 60 percent or more of the residential units in a
structure or building being converted to condominiums have been
sold as condominiums including those units that the converters
retain for their own investment, the market value of the
remaining residential units in that structure or building which
are included in the declaration shall be valued as
condominiums. If not all of the residential units in the
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Minnesota Statutes 2005, 273.11
Page 5 of 14
structure or building are included in the declaration, the 60
percent factor shall apply to those in the declaration A
separate description shall be recognized when a declaration is
filed. For purposes of this clause, "retain" shall mean units
that are rented and completed units that are not available for
sale.
(c) For purposes of this subdivision, a "sale" is defined
as the date when the first written document for the purchase or
conveyance of the property is signed, unless that document is
revoked.
Subd. 10. Repealed, 1999 c 243 art 5 s 54
Subd. 11. Valuation of restored or preserved wetland.
Wetlands restored by the federal, state, or local government,
or by a nonprofit organization, or preserved under the terms of
a temporary or perpetual easement by the federal or state
government, must be valued by assessors at their wetland value.
"Wetland value" in this subdivision means the market value of
wetlands in any potential use in which the wetland character is
not permanently altered. Wetland value shall not reflect
potential uses of the wetland that would violate the terms of
any existing conservation easement, or anyone-time payment
received by the wetland owner under the terms of a state or
federal conservation easement. Wetland value shall reflect any
potential income consistent with a property's wetland character I
including but not limited to lease payments for hunting or other
recreational uses. The commissioner of revenue shall issue a
bulletin advising assessors of the provisions of this section by
October 1, 1991.
For purposes of this subdivisionl "wetlands" means lands
transitional between terrestrial and aquatic systems where the
water table is usually at or near the surface or the land is
covered by shallow water. For purposes of this definition,
wetlands must have the following three attributes:
(1) have a predominance of hydric soils;
(2) are inundated or saturated by surface or ground water
at a frequency and duration sufficient to support a prevalence
of hydrophytic vegetation typically adapted for life in
saturated soil conditions; and
(3) under normal circumstances support a prevalence of such
vegetation.
Subd. 12. Neighborhood land trusts. (a) A
neighborhood land trust, as defined under chapter 462A, is (i) a
community-based nonprofit corporation organized under chapter
317A, which qualifies for tax exempt status under 501(c) (3), or
(ii) a "city" as defined in section .i62C. 021 subdivision 61
which has received funding from the Minnesota housing finance
agency for purposes of the neighborhood land trust program. The
Minnesota Housing Finance Agency shall set the criteria for
neighborhood land trusts.
(b) All occupants of a neighborhood land trust building
must have a family income of less than 80 percent of the greater
of (1) the state median income, or (2) the area or county median
income, as most recently determined by the Department of Housing
and Urban Development. Before the neighborhood land trust can
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Minnesota Statutes 2005, 273.11
Page 6 of 14
rent or sell a unit to an applicant, the neighborhood land trust
shall verify to the satisfaction of the administering agency or
the city that the family income of each person or family
applying for a unit in the neighborhood land trust building is
within the income criteria provided in this paragraph. The
administering agency or the city shall verify to the
satisfaction of the county assessor that the occupant meets the
income criteria under this paragraph. The property tax benefits
under paragraph (c) shall be granted only to property owned or
rented by persons or families within the qualifying income
limits. The family income criteria and verification is only
necessary at the time of initial occupancy in the property.
(c) A unit which is owned by the occupant and used as a
homestead by the occupant qualifies for homestead treatment as
class la under section 273.13, subdivision 22. A unit which is
rented by the occupant and used as a homestead by the occupant
shall be class 4a or 4b property, under section 273.13/
subdivision 25, whichever is applicable. Any remaining portion
of the property not used for residential purposes shall be
classified by the assessor in the appropriate class based upon
the use of that portion of the property owned by the
neighborhood land trust. The land upon which the building is
located shall be assessed at the same class rate as the units
within the building/ provided that if the building contains some
units assessed as class la and some units assessed as class 4a
or 4b, the market value of the land will be assessed in the same
proportions as the value of the building.
Subd. 13. Valuation of income-producing property.
Beginning with the 1995 assessment, only accredited assessors or
senior accredited assessors or other licensed assessors who have
successfully completed at least two income-producing property
appraisal courses may value income-producing property for ad
valorem tax purposes. "Income-producing property" as used in
this subdivision means the taxable property in class 3a and 3b
in section 273.13, subdivision 24; class 4a and 4c/ except for
seasonal recreational property not used for commercial purposes;
and class 5 in section 273~~l, subdivision 31.
"Income-producing property" includes any property in class 4e in
section , subdivision 25, that would be income-producing
property under the definition in this subdivision if it were not
substandard. "Income-producing property appraisal course" as
used in this subdivision means a course of study of
approximately 30 instructional hours, with a final comprehensive
test. An assessor must successfully complete the final
examination for each of the two required courses. The course
must be approved by the board of assessors.
Subd. 14. Vacant land platted before August 1, 2001.
(a) All land platted before August I, 2001, and not improved
with a permanent structure, shall be assessed as provided in
this subdivision. The assessor shall determine the market value
of each individual lot based upon the highest and best use of
the property as unplatted land. In establishing the market
value of the property, the assessor shall consider the sale
price of the unplatted land or comparable sales of unplatted
land of similar use and similar availability of public utilities.
(b) The market value determined in paragraph (a) shall be
increased as follows for each of the three assessment years
immediately following the final approval of the plat: one-third
of the difference between the property's unplatted market value
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Minnesota Statutes 2005, 273.11
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as determined under paragraph
upon the highest and best use
shall be added in each of the
(a) and the market value based
of the land as platted property
three subsequent assessment years.
(c) Any increase in market value afte~ the first assessment
year following the plat's final approval shall be added to the
property's market value in the next assessment year.
Notwithstanding paragraph (b), if construction begins before the
expiration of the three years in paragraph (b), that lot shall
be eligible for revaluation in the next assessment year. The
market value of a platted lot determined under this subdivision
shall not exceed the value of that lot based upon the highest
and best use of the property as platted land.
Subd. 14a. Vacant land platted on or after August 1,
2001; located in metropolitan counties. (a) All land platted
on or after August I, 2001, located in a metropolitan county,
and not improved with a permanent structure, shall be assessed
as provided in this subdivision. The assessor shall determine
the market value of each individual lot based upon the highest
and best use of the property as unplatted land. In establishing
the market value of the property, the assessor shall consider
the sale price of the unplatted land or comparable sales of
unplatted land of similar use and similar availability of public
utilities.
(b) The market value determined in paragraph (a) shall be
increased as follows for each of the three assessment years
immediately following the final approval of the plat: one-third
of the difference between the property's unplatted market value
as determined under paragraph (a) and the market value based
upon the highest and best use of the land as platted property
shall be added in each of the three subsequent assessment years.
(c) Any increase in market value after the first assessment
year following the plat's final approval shall be added to the
property's market value in the next assessment year.
Notwithstanding paragraph (b), if construction begins before the
expiration of the three years in paragraph (b), that lot shall
be eligible for revaluation in the next assessment year. The
market value of a platted lot determined under this subdivision
shall not exceed the value of that lot based upon the highest
and best use of the property as platted land.
(d) For purposes of this section, "metropolitan county"
means the counties of Anoka, Carver, Dakota, Hennepin, Ramsey,
Scott, and Washington.
Subd. 14b. Vacant land platted on or after August 1,
2001; located in nonmetropolitan counties. (a) All land
platted on or after August I, 2001, located in a nonmetropolitan
county, and not improved with a permanent structure, shall be
assessed as provided in this subdivision. The assessor shall
determine the market value of each individual lot based upon the
highest and best use of the property as unplatted land. In
establishing the market value of the property, the assessor
shall consider the sale price of the unplatted land or
comparable sales of unplatted land of similar use and similar
availability of public utilities.
(b) The market value determined in paragraph (a) shall be
increased as follows for each of the seven assessment years
immediately following the final approval of the plat:
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Minnesota Statutes 2005, 273.11
Page 8 of 1.d
one-seventh of the difference between the property's unplatted
market value as determined under paragraph (a) and the market
value based upon the highest and best use of the land as platted
property shall be added in each of the seven subsequent
assessment years.
(c) Any increase in market value after the first assessment
year following the plat's final approval shall be added to the
property's market value in the next assessment year.
Notwithstanding paragraph (b), if construction begins before the
expiration of the seven years in paragraph (b), that lot shall
be eligible for revaluation in the next assessment year. The
market value of a platted lot determined under this subdivision
shall not exceed the value of that lot based upon the highest
and best use of the property as platted land.
Subd. 15. Vacant hospitals. In valuing a hospital,
as defined in section 144.50, subdivision 2, that is located
outside of a metropolitan county, as defined in section 473.121,
subdivision 4, and that on the date of sale is vacant and not
used for hospital purposes or for any other purpose, the
assessor's estimated market value for taxes levied in the year
of the sale sball be no greater than the sales price of the
property, including both the land and the buildings, as adjusted
for terms of financing. If the sale is made later than December
IS, the market value as determined under this subdivision shall
be used for taxes levied in the following year. This
subdivision applies only if the sales price of the property was
determined under an arm's-length transaction.
Subd. 16. Valuation exclusion for certain improvements.
Improvements to homestead property made before January 2,
2003, shall be fully or partially excluded from the value of the
property for assessment purposes provided that (1) the house is
at least 45 years old at the time of the improvement and (2) the
assessor's estimated market value of the house on January 2 of
the current year is equal to or less than $400,000.
For purposes of determining this eligibility, "house" means
land and buildings.
The age of a residence is the number of years since the
original year of its construction. In the case of a residence
that is relocated, the relocation must be from a location within
the state and the only improvements eligible for exclusion under
this subdivision are (1) those for which building permits were
issued to the homeowner after the residence was relocated to its
present site, and (2) those undertaken during or after the year
the residence is initially occupied by the homeowner, excluding
any market value increase relating to basic improvements that
are necessary to install the residence on its foundation and
connect it to utilities at its present site. In the case of an
owner-occupied duplex or triplex, the improvement is eligible
regardless of which portion of the property was improved.
If the property lies in a jurisdiction which is subject to
a building permit process, a building permit must have been
issued prior to commencement of the improvement. The
improvements for a single project or in anyone year must add at
least $5,000 to the value of the property to be eligible for
exclusion under this subdivision. Only improvements to the
structure which is the residence of the qualifying homesteader
or construction of or improvements to no more than one two-car
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Minnesota Statutes 2005, 273.11
Page 9 of 14
garage per residence qualify for the provisions of this
subdivision. If an improvement was begun between January 2,
1992, and January 2, 1993, any value added from that improvement
for the January 1994 and subsequent assessments shall quali
for exclusion under this subdivision provided that a building
permit was obtained for the improvement between January 2, 1992,
and January 2, 1993. Whenever a building permit is issued for
property currently classified as homestead, the issuing
jurisdiction shall notify the property owner of the possibility
of valuation exclusion under this subdivision. The assessor
shall require an application, including documentation of the age
of the house from the owner, if unknown by the assessor. The
application may be filed subsequent to the date of the building
permit provided that the application must be filed within three
years of the date the building permit was issued for the
improvement. If the property lies in a jurisdiction which is
not subject to a building permit process, the application must
be filed within three years of the date the improvement was
made. The assessor may require proof from the taxpayer of the
date the improvement was made. Applications must be received
prior to July 1 of any year in order to be effective for taxes
payable in the following year.
No exclusion for an improvement may be granted by a local
board of review or county board of equalization, and no
abatement of the taxes for qualifying improvements may be
granted by the county board unless (1) a building permit was
issued prior to the commencement of the improvement if the
jurisdiction requires a building permit, and (2) an application
was completed.
The assessor shall note the qualifying value of each
improvement on the property's record, and the sum of those
amounts shall be subtracted from the value of the property in
each year for ten years after the improvement has been made.
After ten years the amount of the qualifying value shall be
added back as follows:
(1) 50 percent in the two subsequent assessment years if
the qualifying value is equal to or less than $10,000 market
value; or
(2) 20 percent in the five subsequent assessment years if
the qualifying value is greater than $10,000 market value.
If an application is filed after the first assessment date at
which an improvement could have been subject to the valuation
exclusion under this subdivision, the ten-year period during
which the value is subject to exclusion is reduced by the number
of years that have elapsed since the property would have
qualified initially. The valuation exclusion shall terminate
whenever (1) the property is sold, or (2) the property is
reclassified to a class which does not qualify for treatment
under this subdivision. Improvements made by an occupant who is
the purchaser of the property under a conditional purchase
contract do not qualify under this subdivision unless the seller
of the property is a governmental entity. The qualifying value
of the property shall be computed based upon the increase from
that structure's market value as of January 2 preceding the
acquisition of the property by the governmental entity.
The total qualifying value for a homestead may not exceed
$50,000. The total qualifying value for a homestead with a
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Minnesota Statutes 2005, 273.11
house that is less than 70 years old may not exceed $25,000.
The term "qualifying value" means the increase in estimated
market value resulting from the improvement if the improvement
occurs when the house is at least 70 years old, or one-half of
the increase in estimated market value resulting from the
improvement otherwise. The $25,000 and $50,000 maximum
qualifying value under this subdivision may result from multiple
improvements to the homestead.
Page 10 OflL
If 50 percent or more of the square footage of a structure
is voluntarily razed or removed, the valuation increase
attributable to any subsequent improvements to the remaining
structure does not qualify for the exclusion under this
subdivision. If a structure is unintentionally or accidentally
destroyed by a natural disaster, the property is eligible for an
exclusion under this subdivision provided that the structure was
not completely destroyed. The qualifying value on property
destroyed by a natural disaster shall be computed based upon the
increase from that structure's market value as determined on
January 2 of the year in which the disaster occurred. A
property receiving benefits under the homestead disaster
provisions under section is not disqualified from
receiving an exclusion under this subdivision. If any
combination of improvements made to a structure after January 1,
1993, increases the size of the structure by 100 percent or
more, the valuation increase attributable to the portion of the
improvement that causes the structure's size to exceed 100
percent does not qualify for exclusion under this subdivision.
Subd. 17. Valuation of contaminated properties. (a)
In determining the market value of property containing
contaminants, the assessor shall reduce the market value of the
property by the contamination value of the property. The
contamination value is the amount of the market value reduction
that results from the presence of the contaminants, but it may
not exceed the cost of a reasonable response action plan or
asbestos abatement plan or management program for the property.
(b) For purposes of this subdivision, "asbestos abatement
plan," "contaminants," and "response action plan" have the
meanings as used in sections 270.91 and
Subd. 18. Disclosure of valuation exclusion. No
seller of real property shall sell or offer for sale property
that, for purposes of property taxation, has an exclusion from
market value for home improvements under subdivision 16, without
disclosing to the buyer the existence of the excluded valuation
and informing the buyer that the exclusion will end upon the
sale of the property and that the property's estimated market
value for property tax purposes will increase accordingly.
Subd. 19. Valuation exclusion for improvements to
certain business property. Property classified under
Minnesota Statutes, section 2 , subdivision 24, which is
eligible for the preferred class rate on the market value up to
$150,000, shall qualify for a valuation exclusion for assessment
purposes, provided all of the following conditions are met:
(1) the building must be at least 50 years old at the time
of the improvement or damaged by the 1997 floods;
(2) the building must be located in a city or town with a
population of 10,000 or less that is located outside the
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Minnesota Statutes 2005, 273.11
Page 11 of14
seven-county metropolitan area, as defined in section 4
subdivision 2i
(3) the total estimated market value of the land and
buildings must be $100,000 or less prior to the improvement and
prior to the damage caused by the 1997 floodsi
(4) the current year's estimated market value of the
property must be equal to or less than the property's estimated
market value in each of the two previous years' assessmentsi
(5) a building permit must have been issued prior to the
commencement of the improvement, or if the building is located
in a city or town which does not have a building permit process,
the property owner must notify the assessor prior to the
commencement of the improvementi
(6) the property, including its improvements, has received
no public assistance, grants or financing except, that in the
case of property damaged by the 1997 floods, the property is
eligible to the extent that the flood losses are not reimbursed
by insurance or any public assistance, grants, or financingi
(7) the property is not receiving a property tax abatement
under section 469.1813i and
(8) the improvements are made after the effective date of
Laws 1997, chapter 231, and prior to January 1, 1999.
The assessor shall estimate the market value of the
building in the assessment year immediately following the year
that (1) the building permit was taken out, or (2) the taxpayer
notified the assessor that an improvement was to be made. If
the estimated market value of the building has increased over
the prior year's assessment, the assessor shall note the amount
of the increase on the property's record, and that amount shall
be subtracted from the value of the property in each year for
five years after the improvement has been made, at which time an
amount equal to 20 percent of the excluded value shall be added
back in each of the five subsequent assessment years.
For any property, there can be no more than two
improvements qualifying for exclusion under this subdivision.
The maximum amount of value that can be excluded from any
property under this subdivision is $50,000.
The assessor shall require an application, including
documentation of the age of the building from the owner, if
unknown by the assessor. Applications must be received prior to
July 1 of any year in order to be effective for taxes payable in
the following year.
For purposes of this subdivision, "population" has the same
meaning given in Minnesota Statutes, section 47 .011,
subdivision 3.
Subd. 20. Valuation exclusion for improvements to
certain business property. Property classified under section
, subdivision 24, qualifies for a valuation exclusion for
assessment purposes, provided all of the following conditions
are met:
(1) the building must have been damaged by the 2002 floodsi
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Minnesota Statutes 2005, 273.11
Page 12 of 1,
(2) the building must be located in a city or town with a
population of 10,000 or less that is located in a county in the
area included in DR-1419;
(3) the total estimated market value of the land and
buildings must be $150,000 or less for assessment year 2002;
(4) a building permit must have been issued prior to the
commencement of the improvement, or if the building is located
in a city or town which does not have a building permit process,
the property owner must notify the assessor prior to the
commencement of the improvement;
(5) the property is not receiving a property tax abatement
under section 469.1813; and
(6) the improvements are made before January 1, 2004.
The assessor shall estimate the market value of the
building in the assessment year immediately following the year
that (1) the building permit was taken out, or (2) the taxpayer
notified the assessor that an improvement was to be made. If
the estimated market value of the building has increased over
the 2002 assessment before any reassessment due to flood damage,
the assessor shall note the amount of the increase on the
property's record, and that amount shall be subtracted from the
value of the property in each year for five years after the
improvement has been made. In each of the next five subsequent
assessment years, an amount equal to 20 percent of the value
excluded in the fifth year for that improvement shall be added
back.
The maximum amount of value that can be excluded for all
improvements to any property under this subdivision is $50,000.
The assessor shall require an application. Applications
must be received by December 31, 2002, or December 31, 2003, in
order to be effective for taxes payable in the following year.
For purposes of this subdivision, "population" has the
meaning given in section , subdivision 3.
Subd. 21. Valuation reduction for homestead property
damaged by mold. (a) The owner of homestead property may
apply in writing to the assessor for a reduction in the market
value of the property that has been damaged by mold. The
notification must include the estimated cost to cure the mold
condition provided by a licensed contractor. The estimated cost
must be at least $20,000. Upon completion of the work, the
owner must file an application on a form prescribed by the
commissioner of revenue, accompanied by a copy of the
contractor's estimate.
(b) If the conditions in paragraph (a) are met, the county
board must grant a reduction in the market value of the
homestead dwelling equal to the estimated cost to cure the mold
condition. If a property owner applies for a reduction under
this subdivision between January 1 and June 30 of any year, the
reduction applies for taxes payable in the following year. If a
property owner applies for a reduction under this subdivision
between July 1 and December 31 of any year, the reduction
applies for taxes payable in the second following year.
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Minnesota Statutes 2005, 273.11
Page 13 of14
(c) A denial of a reduction under this section by the
county board may be appealed to the tax court. If the county
board takes no action on the application within 90 days after
its receipt, it is considered an approval.
(d) For purposes of subdivision la, in the assessment year
following the assessment year when a valuation reduction has
occurred under this section, any market value added by the
assessor to the property resulting from curing the mold
condition must be considered an increase in value due to new
construction.
Subd. 22. Lead hazard market value reduction. Owners
of property classified as class la, Ib, lc, 2a, 4b, 4bb, or 4d
under section 273.13 may apply for a lead hazard valuation
reduction, provided that the property is located in a city which
has authorized valuation reductions under this subdivision. A
city that authorizes reductions under this subdivision must
establish guidelines for qualifying lead hazard reduction
projects and must designate an agency within the city to issue
certificates of completion of qualifying projects. For purposes
of this subdivision, "lead hazard reduction" has the same
meaning as in section 144.9501, subdivision 17.
The property owner must obtain a certificate from the
agency stating (1) that the project has been completed and (2)
the total cost incurred by the owner, which must be at least
$3,000. Only projects originating after July 1, 2005, and
completed before July 1, 2010, qualify for a reduction under
this subdivision. The property owner shall apply for the
valuation reduction to the assessor on a form prescribed by the
assessor accompanied by a copy of the certificate of completion
from the agency.
A qualifying property is eligible for a one-year valuation
reduction equal to the actual cost incurred, to a maximum of
$20,000. If a property owner applies to the assessor for the
valuation reduction under this subdivision between January 1 and
June 30 of any year, the reduction applies for taxes payable in
the following year. If a property owner applies to the assessor
for the valuation reduction under this subdivision between July
1 and December 31, the reduction applies for taxes payable in
the second following year. For purposes of subdivision la, any
additional market value resulting from the lead hazard removal
must be considered an increase in value due to new construction.
HIST: (1992) RL s 810, Ex1967 c 32 art 7 s 3, 1969 c 574 s 1,
1969 c 990 s 1, 1971 c 427 s I, 1971 c 489 s I, 1971 c 831 s I,
1973 c 582 s 3, 1973 c 650 art 23 s 1-4, 1974 c 556 s 14, 1975 c
437 art 8 s 4-6, 1976 c 2 s 93, 1976 c 345 s 1, 1977 c 423 art 4
s 4, 1978 c 786 s 10,11, 1979 c 303 art 2 s 7, lSp1981 c 1 art 2
s 3,4, lSp1981 c 4 art 2 s 50, 1982 C 424 s 61,62, 1982 c 523
art 19 s 2, art 21 s 1, 1983 c 222 s 7, 1983 c 342 art 2 s 5 7,
1984 c 502 art 3 s 6, lSp1985 c 14 art 4 s 35, 1986 c 444,
lSp1986 c 1 art 4 s 12, 1987 c 268 art 5 s 1, art 7 s 32, 1987 c
384 art 3 s 10, 1988 c 719 art 5 s 84; 1989 c 329 art 13 s 20;
1989 c 356 s 13, 1990 c 480 art 7 s 5, 1990 c 604 art 3 s 9,
1991 c 291 art 1 s 12, 1991 c 354 art 10 s 7,8, 1992 c 511 art 2
s 11,12, 1992 c 556 s 2,3, 1992 c 597 s 14, 1993 c 375 art 5 s
8-13, art 8 s 14; art 11 s 3, art 12 s 9, 1994 c 416 art 1 s 13;
1994 c 587 art 5 s 3-5; 1995 c 1 s 2, 1995 c 264 art 16 s 9,
1996 c 471 art 3 s 5, 1997 c 231 art 2 s 10,11,52, art 8 s 2,
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Milmesota Statutes 2005,273.11
Page 14 of14
1997 c 251 s 16; 1998 c 397 art 11
lSp2001 c 5 art 3 s 23-26; lSp2002
15; lSp2003 c 21 art 4 s 3; 2005 c
lSp2005 c 3 art 1 s 8 10
s 3; 1999 c 243 art 5 s 6,7;
cIs 14; 2003 c 127 art 5 s
151 art 2 s 6; art 5 s 16;
* NOTE: The amendment to subdivision la by Laws 2005, First
*Special Session chapter 3, article 1, section 8, is effective
*for assessment years 2005 through 2008, for taxes payable in
*2006 through 2009. Laws 2005, First Special Session chapter 3,
*article 1, section 8, the effective date.
Please direct all comments concerning issues or legislation
to your House Member or State Senator.
For Legislative Staff or for directions to the Capitol, visit the .conta~Us page.
General Questions or comments.
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Minnesota Statutes 2005, 273.121
Page 1 of 1
273.121 Valuation of real property, notice.
Any county assessor or city assessor having the powers of a
county assessor, valuing or classifying taxable real property
shall in each year notify those persons whose property is to be
included on the assessment roll that year if the person's
address is known to the assessor, otherwise the occupant of the
property. The notice shall be in writing and shall be sent by
ordinary mail at least ten days before the meeting of the local
board of appeal and equalization under section or the
review process established under section , subdivision
1c. It shall contain: (1) the market value for the current and
prior assessment, (2) the limited market value under section
, subdivision la, for the current and prior assessment, (3)
the qualifying amount of any improvements under section 7
subdivision 16, for the current assessment, (4) the market value
subject to taxation after subtracting the amount of any
qualifying improvements for the current assessment, (5) the
classification of the property for the current and prior
assessment, (6) a note that if the property is homestead and at
least 45 years old, improvements made to the property may be
eligible for a valuation exclusion under section
subdivision 16, (7) the assessor's office address, and (8) the
dates, places, and times set for the meetings of the local board
of appeal and equalization, the review process established under
section , subdivision 1c, and the county board of appeal
and equalization. The commissioner of revenue shall specify the
form of the notice. The assessor shall attach to the assessment
roll a statement that the notices required by this section have
been mailed. Any assessor who is not provided sufficient funds
from the assessor's governing body to provide such notices, may
make application to the commissioner of revenue to finance such
notices. The commissioner of revenue shall conduct an
investigation and, if satisfied that the assessor does not have
the necessary funds, issue a certification to the commissioner
of finance of the amount necessary to provide such notices. The
commissioner of finance shall issue a warrant for such amount
and shall deduct such amount from any state payment to such
county or municipality. The necessary funds to make such
payments are hereby appropriated. Failure to receive the notice
shall in no way affect the validity of the assessment, the
resulting tax, the procedures of any board of review or
equalization, or the enforcement of delinquent taxes by
statutory means.
HIST: Ex1971 c 31 art 23 s 2; 1973 c 492 s 14; 1974 c 363 s 1;
1975 c 437 art 8 s 7; 1980 c 437 s 3; 1982 c 523 art 23 s 1;
lSp1985 c 14 art 4 s 41; 1986 c 444; 1988 c 719 art 6 s 8; 1993
c 375 art 5 s 16; 1995 cIs 3; 1997 c 231 art 2 s 17; ISp2001 c
5 art 7 s 20; 2002 c 377 art 10 s 5
Copyright 2005 by the Office of Revisor of Statutes, State of Minnesota.
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Minnesota Statutes 2005, 273.13
Page 1 of l~
273.13 Classification of property.
Subdivision 1. How classified. All real and personal
property subject to a general property tax and not subject to
any gross earnings or other in-lieu tax is hereby classified for
purposes of taxation as provided by this section.
Subd. 2. Repealed, lSp1985 c 14 art 4 s 98
Subd. 2a. Repealed, lSp1985 c 14 art 4 s 98
Subd. 3. Repealed, lSp1985 c 14 art 4 s 98
Subd. 4. Repealed, lSp1985 c 14 art 4 s 98
Subd. 5. Repealed, Ex1971 c 31 art 22 s 5
Subd. Sa. Repealed, lSp1985 c 14 art 4 s 98
Subd. 6. Repealed, lSp1985 c 14 art 4 s 98
Subd. 6a. Repealed, lSp1985 c 14 art 4 s 98
Subd. 7. Repealed, lSp1985 c 14 art 4 s 98
Subd. 7a. Repealed, 1988 c 719 art 5 s 81
Subd. 7b. Repealed, lSp1985 c 14 art 4 s 98
Subd. 7c. Repealed, lSp1985 c 14 art 4 s 98
Subd. 7d. Repealed, lSp1985 c 14 art 4 s 98
Subd. 8. Repealed, Ex1967 c 32 art 4 s 3
Subd. 8a. Repealed, lSp1985 c 14 art 4 s 98
Subd. 9. Repealed, 1988 c 719 art 5 s 81
Subd. 10. Repealed, lSp1985 c 14 art 4 s 98
Subd. 11. Repealed, lSp1985 c 14 art 4 s 98
Subd. 12. Repealed, lSp1985 c 14 art 4 s 98
Subd. 13 . Repealed, 1974 c 313 s 1
Subd. 14 . Repealed, 1984 c 593 s 46
Subd. 14a. Repealed, lSp1985 c 14 art 4 s 98
Subd. 15. Repealed, Ex1971 c 31 art 36 s 2
Subd. 15a. Repealed, 1988 c 719 art 5 s 81
Subd. 15b. Repealed, 1983 c 342 art 2 s 30
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Minnesota Statutes 2005, 273.13
Page 9 of 13
class 1c or 4c, must submit a declaration to the assessor
designating the cabins or units occupied for 250 days or less in
the year preceding the year of assessment by January 15 of the
assessment year. Those cabins or units and a ~roportionate
share of the land on which they are located will be designated
class 1c or 4c as otherwise provided. The remainder of the
cabins or units and a proportionate share of the land on which
they are located will be designated as class 3a. The owner of
property desiring designation as class 1c or 4c property must
provide guest registers or other records demonstrating that the
units for which class 1c or 4c designation is sought were not
occupied for more than 250 days in the year preceding the
assessment if so requested. The portion of a property operated
as a (1) restaurant, (2) bar, (3) gift shop, and (4) other
nonresidential facility operated on a commercial basis not
directly related to temporary and seasonal residential occupancy
for recreation purposes shall not qualify for class 1c or 4Ci
(2) qualified property used as a golf course if:
(i) it is open to the public on a daily fee basis. It may
charge membership fees or dues, but a membership fee may not be
required in order to use the property for golfing, and its green
fees for golfing must be comparable to green fees typically
charged by municipal courseSi and
(ii) it meets the requirements of section
subdivision 3, paragraph (d).
A structure used as a clubhouse, restaurant, or place of
refreshment in conjunction with the golf course is classified as
class 3a propertYi
(3) real property up to a maximum of one acre of land owned
by a nonprofit community service oriented organizationi provided
that the property is not used for a revenue-producing activity
for more than six days in the calendar year preceding the year
of assessment and the property is not used for residential
purposes on either a temporary or permanent basis. For purposes
of this clause, a "nonprofit community service oriented
organization" means any corporation, society, association,
foundation, or institution organized and operated exclusively
for charitable, religious, fraternal, civic, or educational
purposes, and which is exempt from federal income taxation
pursuant to section 501 (c) (3), (10), or (19) of the Internal
Revenue Code of 1986, as amended through December 31, 1990. For
purposes of this clause, "revenue-producing activities" shall
include but not be limited to property or that portion of the
property that is used as an on-sale intoxicating liquor or 3.2
percent malt liquor establishment licensed under chapter 340A, a
restaurant open to the public, bowling alley, a retail store,
gambling conducted by organizations licensed under chapter 349,
an insurance business, or office or other space leased or rented
to a lessee who conducts a for-profit enterprise on the
premises. Any portion of the property which is used for
revenue-producing activities for more than six days in the
calendar year the year of assessment shall be assessed
as class 3a. The use of the property for social events open
exclusively to members and their guests for periods of less than
24 hours, when an admission is not charged nor any revenues are
received by the organization shall not be considered a
revenue-producing activitYi
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Minnesota Statutes 2005, 273.13 Page 8 of 13
(3) a dwelling, garage, and surrounding one acre of
property on a nonhomestead farm classified under subdivision 23,
paragraph (b) containing two or three units; and
(4) unimproved property that is classified residential as
determined under subdivision 33.
The market value of class 4b property has a class rate of
1.25 percent.
(c) Class 4bb includes:
(1) nonhomestead residential real estate containing one
unit, other than seasonal residential recreational property; and
(2) a single family dwelling, garage, and surrounding one
acre of property on a nonhomestead farm classified under
subdivision 23, paragraph (b).
Class 4bb property has the same class rates as class 1a
property under subdivision 22.
Property that has been classified as seasonal residential
recreational property at any time during which it has been owned
by the current owner or spouse of the current owner does not
qualify for class 4bb.
(d) Class 4c property includes:
(1) except as provided in subdivision 22, paragraph (c),
real property devoted to temporary and seasonal residential
occupancy for recreation purposes, including real property
devoted to temporary and seasonal residential occupancy for
recreation purposes and not devoted to commercial purposes for
more than 250 days in the year preceding the year of
assessment. For purposes of this clause, property is devoted to
a commercial purpose on a specific day if any portion of the
property is used for residential occupancy, and a fee is charged
for residential occupancy. In order for a property to be
classified as class 4c, seasonal residential recreational for
commercial purposes, at least 40 percent of the annual gross
lodging receipts related to the property must be from business
conducted during 90 consecutive days and either (i) at least 60
percent of all paid bookings by lodging guests during the year
must be for periods of at least two consecutive nights; or (ii)
at least 20 percent of the annual gross receipts must be from
charges for rental of fish houses, boats and motors,
snowmobiles, downhill or cross-country ski equipment, or charges
for marina services, launch services, and guide services, or the
sale of bait and fishing tackle. For purposes of this
determination, a paid booking of five or more nights shall be
counted as two bookings. Class 4c also includes commercial use
real property used exclusively for recreational purposes in
conjunction with class 4c property devoted to temporary and
seasonal residential occupancy for recreational purposes, up to
a total of two acres, provided the property is not devoted to
commercial recreational use for more than 250 days in the year
preceding the year of assessment and is located within two miles
of the class 4c property with which it is used. Owners of real
property devoted to temporary and seasonal residential occupancy
for recreation purposes and all or a portion of which was
devoted to commercial purposes for not more than 250 days in the
year preceding the year of assessment desiring classification as
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Milmesota Statutes 2005, 273.13
Page 7 of 13
business is housed in a separate structure. For the purposes of
this subdivision, the first tier means the first $150,000 of
market value. Real property owned in fee by a utility for
transmission line right-of-way shall be classified at the class
rate for the higher tier.
For purposes of this subdivision, parcels are considered to
be contiguous even if they are separated from each other by a
road, street, waterway, or other similar intervening type of
property. Connections between parcels that consist of power
lines or pipelines do not cause the parcels to be contiguous.
Property owners who have contiguous parcels of property that
constitute separate businesses that may qualify for the
first-tier class rate shall notify the assessor by July It for
treatment beginning in the following taxes payable year.
(2) All personal property that is: (i) part of an electric
generationt transmissiont or distribution system; or (ii) part
of a pipeline system transporting or distributing watert gas,
crude oilt or petroleum products; and (iii) not described in
clause (3) t and all railroad operating property has a class rate
as provided under clause (1) for the first tier of market value
and the remaining market value. In the case of multiple parcels
in one county that are owned by one person or entity, only one
first tier amount is eligible for the reduced rate.
(3) The entire market value of personal property that is:
(i) tools, implements, and machinery of an electric generationt
transmission, or distribution system; (ii) tools, implements,
and machinery of a pipeline system transporting or distributing
watert gast crude oil, or petroleum products; or (iii) the mains
and pipes used in the distribution of steam or hot or chilled
water for heating or cooling buildingst has a class rate as
provided under clause (1) for the remaining market value in
excess of the first tier.
(b) Employment property defined in section 469.1~~t during
the period provided in section 469.12Qt shall constitute class
3b. The class rates for class 3b property are determined under
paragraph (a).
Subd. 24a. Repealed, lSp2001 c 5 art 3 s 96
Subd. 25. Class 4. (a) Class 4a is residential real
estate containing four or more units and used or held for use by
the owner or by the tenants or lessees of the owner as a
residence for rental periods of 30 days or more, excluding
property qualifying for class 4d. Class 4a also includes
hospitals licensed under sections 144..50 to 144.56, other than
hospitals exempt under section 272.02t and contiguous property
used for hospital purposest without regard to whether the
property has been platted or subdivided. The market value of
class 4a property has a class rate of 1.25 percent.
(b) Class 4b includes:
(1) r'esidential real estate less than four units
that does not qualify as class 4bbt other than seasonal
residential recreational property;
(2) manufactured homes not classified under any other
provision;
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Minnesota Statutes 2005,273.13
Page 6 of 1:
appropriate, and the remainder in the class appropriate to its
use. The grading, sorting, and packaging of raw agricultural
products for first sale is considered an agricultural purpose.
A greenhouse or other building where horticultural or nursery
products are grown that is also used for the conduct of retail
sales must be classified as agricultural if it is primari used
for the growing of horticultural or nursery products from seed,
cuttings, or roots and occasionally as a showroom for the retail
sale of those products. Use of a greenhouse or building only
for the display of already grown horticultural or nursery
products does not qualify as an agricultural purpose.
The assessor shall determine and list separately on the
records the market value of the homestead dwelling and the one
acre of land on which that dwelling is located. If any farm
buildings or structures are located on this homesteaded acre of
land, their market value shall not be included in this separate
determination.
(g) To qualify for classification under paragraph (b),
clause (4), a privately owned public use airport must be
licensed as a public airport under section 360.018. For
purposes of paragraph (b); clause (4), "landing area" means that
part of a privately owned public use airport properly cleared,
regularly maintained, and made available to the public for use
by aircraft and includes runways, taxiways, aprons, and sites
upon which are situated landing or navigational aids. A landing
area also includes land underlying both the primary surface and
the approach surfaces that comply with all of the following:
(i) the land is properly cleared and regularly maintained
for the primary purposes of the landing, taking off, and taxiing
of aircraft; but that portion of the land that contains
facilities for servicing, repair, or maintenance of aircraft is
not included as a landing area;
(ii) the land is part of the airport property; and
(iii) the land is not used for commercial or residential
purposes.
The land contained in a landing area under paragraph (b), clause
(4), must be described and certified by the commissioner of
transportation. The certification is effective until it is
modified, or until the airport or landing area no longer meets
the requirements of paragraph (b), clause (4). For purposes of
paragraph (b), clause (4), "public access area" means property
used as an aircraft parking ramp, apron, or storage hangar, or
an arrival and departure building in connection with the airport.
Subd. 24. Class 3. (a) Commercial and industrial
property and utility real and personal property is class 3a.
(1) Except as otherwise provided, each parcel of
commercial, industrial, or utility real property has a class
rate of 1.5 percent of the first tier of market value, and 2.0
percent of the remaining market value. In the case of
contiguous parcels of property owned by the same person or
entity, only the value equal to the first-tier value of the
contiguous parcels qualifies for the reduced class rate, except
that contiguous parcels owned by the same person or entity shall
be eligible for the first-tier value class rate on each separate
business operated by the owner of the property, provided the
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Minnesota Statutes 2005,273.13 Page 5 of 13
(d) Real estate, excluding the house, garage, and
immediately surrounding one acre of land, of less than ten acres
which is exclusively and intensively used for raising or
cultivating agricultural products, shall be considered as
agricultural land.
Land shall be classified as agricultural even if all or a
portion of the agricultural use of that property is the leasing
to, or use by another person for agricultural purposes.
Classification under this subdivision is not determinative
for qualifying under section 27
The property classification under this section supersedes,
for property tax purposes only, any locally administered
agricultural policies or land use restrictions that define
minimum or maximum farm acreage.
(e) The term "agricultural products" as used in this
subdivision includes production for sale of:
(1) livestock, dairy animals, dairy products, poultry and
poultry products, fur-bearing animals, horticultural and nursery
stock, fruit of all kinds, vegetables, forage, grains, bees, and
apiary products by the ownerj
(2) fish bred for sale and consumption if the fish breeding
occurs on land zoned for agricultural usej
(3) the commercial boarding of horses if the boarding is
done in conjunction with raising or cultivating agricultural
products as defined in clause (1) j
(4) property which is owned and operated by nonprofit
organizations used for equestrian activities, excluding racing;
(5) game birds and waterfowl bred and raised for use on a
shooting preserve licensed under section ~~~115j
(6) insects primarily bred to be used as food for animalsj
(7) trees, grown for sale as a crop, and not sold for
timber, lumber, wood, or wood products; and
(8) maple syrup taken from trees grown by a person licensed
by the Minnesota Department of Agriculture under chapter 28A as
a food processor.
(f) If a parcel used for agricultural purposes is also used
for commercial or industrial purposes, including but not limited
to:
(1) wholesale and retail salesj
(2) processing of raw agricultural products or other goodsj
(3) warehousing or storage of processed goodsj and
(4) office facilities for the support of the activities
enumerated in clauses (1), (2), and (3),
the assessor shall classify the part of the parcel used for
agricultural purposes as class Ib, 2a, or 2b, whichever is
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(2) the structure is occupied exclusively by seasonal farm
workers during the time when they work on that farm, and the
occupants are not charged rent for the privilege of occupying
the property, provided that use of the structure for storage of
farm equipment and produce does not disqualify the property from
classification under this paragraph;
(3) the structure meets all applicable health and safety
requirements for the appropriate season; and
(4) the structure is not salable as residential property
because it does not comply with local ordinances relating to
location in relation to streets or roads.
The market value of class Id property has the same class
rates as class la property under paragraph (a).
Subd. 23. Class 2. (a) Class 2a property is
agricultural land including any improvements that is
homesteaded. The market value of the house and garage and
immediately surrounding one acre of land has the same class
rates as class la property under subdivision 22. The value of
the remaining land including improvements up to and including
$600,000 market value has a net class rate of 0.55 percent of
market value. The remaining property over $600,000 market value
has a class rate of one percent of market value.
(b) Class 2b property is (1) real estate, rural in
character and used exclusively for growing trees for timber,
lumber, and wood and wood products; (2) real estate that is not
improved with a structure and is used exclusively for growing
trees for timber, lumber, and wood and wood products, if the
owner has participated or is participating in a cost-sharing
program for afforestation, reforestation, or timber stand
improvement on that particular property, administered or
coordinated by the commissioner of natural resources; (3) real
estate that is nonhomestead agricultural land; or (4) a landing
area or public access area of a privately owned public use
airport. Class 2b property has a net class rate of one percent
of market value.
(c) Agricultural land as used in this section means
contiguous acreage of ten acres or more, used during the
preceding year for agricultural purposes. "Agricultural
purposes" as used in this section means the raising or
cultivation of agricultural products. "Agricultural purposes"
also includes enrollment in the Reinvest in Minnesota program
under sections 103F.501 to or the federal Conservation
Reserve Program as contained in Public Law 99-198 if the
property was classified as agricultural (i) under this
subdivision for the assessment year 2002 or (ii) in the year
prior to its enrollment. Contiguous acreage on the same parcel,
or contiguous acreage on an immediately adjacent under
the same ownership, may also qualify as agricultural land, but
only if it is pasture, timber, waste, unusable wild land, or
land included in state or federal farm programs. Agricultural
classification for property shall be determined excluding the
house, garage, and immediately surrounding one acre of land, and
shall not be based upon the market value of any residential
structures on the parcel or contiguous parcels under the same
ownership.
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Minnesota Statutes 2005,273.13
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dystrophies, or paralysis, of both lower extremities, such as to
preclude motion without the aid of braces, crutches, canes, or a
wheelchair; and
(iii) has acquired a special housing unit with special
fixtures or movable facilities made necessary by the nature of
the veteran's disability, or the surviving spouse of the
deceased veteran for as long as the surviving spouse retains the
special housing unit as a homestead; or
(3) any person who is permanently and totally disabled.
Property is classified and assessed under clause (3) only
if the government agency or income-providing source certifies,
upon the request of the homestead occupant, that the homestead
occupant satisfies the disability requirements of this paragraph.
Property is classified and assessed pursuant to clause (1)
only if the commissioner of revenue certifies to the assessor
that the homestead occupant satisfies the requirements of this
paragraph.
Permanently and totally disabled for the purpose of this
subdivision means a condition which is permanent in nature and
totally incapacitates the person from working at an occupation
which brings the person an income. The first $32,000 market
value of class lb property has a net class rate of .45 percent
of its market value. The remaining market value of class 1b
property has a class rate using the rates for class la or class
2a property, whichever is appropriate, of similar market value.
(c) Class lc property is commercial use real property that
abuts a lake shore line and is devoted to temporary and seasonal
residential occupancy for recreational purposes but not devoted
to commercial purposes for more than 250 days in the year
preceding the year of assessment, and that includes a portion
used as a homestead by the owner, which includes a dwelling
occupied as a homestead by a shareholder of a corporation that
owns the resort, a partner in a partnership that owns the
resort, or a member of a limited liability company that owns the
resort even if the title to the homestead is held by the
corporation, partnership, or limited liability company. For
purposes of this clause, property is devoted to a commercial
purpose on a specific day if any portion of the property,
excluding the portion used exclusively as a homestead, is used
for residential occupancy and a fee is charged for residential
occupancy. The portion of the property used as a homestead by
the owner has the same class rates as class la property under
paragraph (a). The remainder of the property is classified as
follows: the first $500,000 of market value is tier I, the next
$1,700,000 of market value is tier II, and any remaining market
value is tier III. The class rates for class lc are: tier I,
0.55 percent; tier II, 1.0 percent; and tier III, 1.25 percent.
If a class 1c resort property has any market value in tier III,
the entire property must meet the requirements of subdivision
25, paragraph (d), clause (1), to qualify for class 1c treatment
under this paragraph
(d) Class 1d property includes structures that meet all of
the following criteria:
(1) the structure is located on property that is classified
as agricultural property under section 273.13, subdivision 23;
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Minnesota Statutes 2005,273.13 Page 2 of 13
Subd. 16. Repealed, lSp1985 c 14 art 4 s 98
Subd. 17. Repealed, lSp1985 c 14 art 4 s 98
Subd. 17a. Repealed, lSp1985 c 14 art 4 s 98
Subd. 17b. Repealed, lSp1985 c 14 art 4 s 98
Subd. 17c. Repealed, lSp1985 c 14 art 4 s 98
Subd. 17d. Repealed, lSp1985 c 14 art 4 s 98
Subd. 18. Repealed, 1983 c 222 s 45
Subd. 19. Repealed, lSp1985 c 14 art 4 s 98
Subd. 20. Repealed, lSp1985 c 14 art 4 s 98
Subd. 21. Repealed, lSp1985 c 14 art 4 s 98
Subd. 21a. Class rate. In this section, wherever the
"class rate" of a class of property is specified without
qualification as to whether it is the property's "net class
rate" or its "gross class rate," the "net class rate" and "gross
class rate" of that property are the same as its "class rate."
Subd. 21b. Tax capacity. (a) Gross tax capacity
means the product of the appropriate gross class rates in this
section and market values.
(b) Net tax capacity means the product of the appropriate
net class rates in this section and market values.
Subd. 22. Class 1. (a) Except as provided in
subdivision 23 and in paragraphs (b) and (c), real estate which
is residential and used for homestead purposes is class la. In
the case of a duplex or triplex in which one of the units is
used for homestead purposes, the entire property is deemed to be
used for homestead purposes. The market value of class 1a
property must be determined based upon the value of the house,
garage, and land.
The first $500,000 of market value of class la property has
a net class rate of one percent of its market value; and the
market value of class la property that exceeds $500,000 has a
class rate of 1.25 percent of its market value.
(b) Class lb property includes homestead real estate or
homestead manufactured homes used for the purposes of a
homestead by
(1) any person who is blind as defined in section e6D.35,
or the blind person and the blind person's spouse; or
(2) any person, hereinafter referred to as "veteran," who:
(i) served in the active military or naval service of the
united States; and
(ii) is entitled to compensation under the laws and
regulations of the united States for permanent and total
service-connected disabil due to the loss, or loss of use, by
reason of amputation, ankylosis, progressive muscular
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Minnesota Statutes 2005, 273.13
Page 10 of 13
(4) postsecondary student housing of not more than one acre
of land that is owned by a nonprofit corporation organized under
chapter 317A and is used exclusively by a student cooperative,
sorority, or fraternity for on-campus housing or housing located
within two miles of the border of a college campus;
(5) manufactured home parks as defined in section
subdivision 3;
(6) real property that is actively and exclusively devoted
to indoor fitness, health, social, recreational, and related
uses, is owned and operated by a not-for-profit corporation, and
is located within the metropolitan area as defined in section
473.121, subdivision 2;
(7) a leased or privately owned noncommercial aircraft
storage hangar not exempt under section , subdivision 2,
and the land on which it is located, provided that:
(i) the land is on an airport owned or operated by a city,
town, county, Metropolitan Airports Commission, or group
thereof; and
(ii) the land lease, or any ordinance or signed agreement
restricting the use of the leased premise, prohibits commercial
activity performed at the hangar.
If a hangar classified under this clause is sold after June
30, 2000, a bill of sale must be filed by the new owner with the
assessor of the county where the property is located within 60
days of the sale;
(8) a privately owned noncommercial aircraft storage hangar
not exempt under section 272.01, subdivision 2, and the land on
which it is located, provided that:
(i) the land abuts a public airport; and
(ii) the owner of the aircraft storage hangar provides the
assessor with a signed agreement restricting the use of the
premises, prohibiting commercial use or activity performed at
the hangar; and
(9) residential real estate, a portion of which is used by
the owner for homestead purposes, and that is also a place of
lodging, if all of the following criteria are met:
(i) rooms are provided for rent to transient guests that
generally stay for periods of 14 or fewer days;
(ii) meals are provided to persons who rent rooms, the cost
of which is incorporated in the basic room rate;
(iii) meals are not provided to the general public except
for special events on fewer than seven days in the calendar year
preceding the year of the assessment; and
(iv) the owner is the operator of the property.
The market value subject to the 4c classification under this
clause is limited to five rental units. A~y rental units on the
property in excess of five, must be valued and assessed as class
3a. The portion of the property used for purposes of a
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Minnesota Statutes 2005, 273.13
Page 11 of 13
homestead by the owner must be classified as class la property
under subdivision 22.
Class 4c property has a class rate of 1.5 percent of market
value, except that (i) each parcel of seasonal residential
recreational property not used for commercial purposes has the
same class rates as class 4bb property, (ii) manufactured home
parks assessed under clause (5) have the same class rate as
class 4b property, (iii) commercial-use seasonal residential
recreational property has a class rate of one percent for the
first $500,000 of market value, which includes any market value
receiving the one percent rate under subdivision 22, and
percent for the remaining market value, (iv) the market value of
property described in clause (4) has a class rate of one
percent, (v) the market value of property described in clauses
(2) and (6) has a class rate of 1.25 percent, and (vi) that
portion of the market value of property in clause (9) qualifying
for class 4c property has a class rate of 1.25 percent.
(e) Class 4d property is qualifying low-income rental
housing certified to the assessor by the Housing Finance Agency
under section 273.12~, subdivision 3. If only a portion of the
units in the building qualify as low-income rental housing units
as certified under section 273.128, subdivision 3, only the
proportion of qualifying units to the total number of units in
the building qualify for class 4d. The remaining portion of the
building shall be classified by the assessor based upon its
use. Class 4d also includes the same proportion of land as the
qualifying low-income rental housing units are to the total
units in the building. For all properties qualifying as class
4d, the market value determined by the assessor must be based on
the normal approach to value using normal unrestricted rents.
Class 4d property has a class rate of 0.75 percent.
Subd. 25a. Elderly assisted living facility property.
"Elderly assisted living facility property" means residential
real estate containing more than one unit held for use by the
tenants or lessees as a residence for periods of 30 days or
more, along with community rooms, lounges, activity rooms, and
related facilities, designed to meet the housing, health, and
financial security needs of the elderly. The real estate may be
owned by an individual, partnership, limited partnership,
for-profit corporation or nonprofit corporation exempt from
federal income taxation under United States Code, title 26,
section 501 (c) (3) or related sections.
An admission or initiation fee may be required of tenants.
Monthly charges may include charges for the residential unit,
meals, housekeeping, utilities, social programs, a health care
alert system, or any combination of them. On-site health care
may be provided by in-house staff or an outside health care
provider.
The assessor shall classify elderly assisted living
facility property, depending upon the property's ownership,
occupancy, and use. The applicable class rates shall apply
based on its classification, if taxable.
Subd. 26. Repealed, 1987 c 268 art 6 s 53
Subd. 27. Repealed, 1987 c 268 art 6 s 53
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Minnesota Statutes 2005, 273.13
Subd. 28. Repealed, 1987 c 268 art 6 s 53
Subd. 29. Repealed, 1987 c 268 art 6 s 53
Subd. 30. Repealed, 1988 c 719 art 5 s 81
Subd. 31.
Class 5. Class 5 property includes:
(1) unmined iron ore and low-grade iron-bearing formations
as defined in section and
(2) all other property not otherwise classified.
Class 5 property has a class rate of 2.0 percent of market
value.
Subd. 32. Repealed, 1998 c 389 art 2 s 21
Subd. 33. Classification of unimproved property. (a)
All real property that is not improved with a structure must be
classified according to its current use.
(b) Real property that is not improved with a structure and
for which there is no identifiable current use must be
classified according to its highest and best use permitted under
the local zoning ordinance. If the ordinance permits more than
one use, the land must be classified according to the highest
and best use permitted under the ordinance. If no such
ordinance exists, the assessor shall consider the most likely
potential use of the unimproved land based upon the use made of
surrounding land or land in proximity to the unimproved land.
HIST: (1993) 1913 c 483 s 1; 1923 c 140; 1933 c 132; 1933 c
359; 1937 c 365 s 1; Ex1937 c 86 s 1; 1939 c 48; 1941 c 436;
1941 c 437; 1941 c 438; 1943 c 172 s 1; 1943 c 648 s 1; 1945 c
274 s 1; 1945 c 527 s 1; 1947 c 537 s 1; 1949 c 723 s 1; 1951 c
510 s 1; 1951 c 585 s 1; 1953 c 358 s 1,2; 1953 c 400 s 1; 1953
c 747 s 1,2; 1955 c 751 s 1,2; 1957 c 866 s 1; 1957 c 959 s 1;
1959 c 40 s 1; 1959 c 338 s 1; 1959 c 541 s 1; 1959 c 562 s 3;
Ex1959 c 70 art 1 s 2; 1961 c 243 s 1; 1961 c 322 s 1; 1961 c
340 s 3; 1961 c 475 s 1; 1961 c 710 s 1; 1963 c 426 s 1; 1965 c
259 s 1; 1967 c 606 s 1; Ex1967 c 32 art 1 s 2-4; art 4 s 1; art
9 s 1,2; 1969 c 251 s 1; 1969 c 399 s 49; 1969 c 407 s 1; 1969 c
417 s 1; 1969 c 422 s 1,2; 1969 c 709 s 4,5; 1969 c 760 s 1;
1969 c 763 s 1; 1969 c 965 s 2; 1969 c 1126 s 2; 1969 c 1128 s
1,2; 1969 c 1132 s 1; 1969 c 1137 s 1; 1971 c 226 s 1; 1971 c
427 s 3-12,16,17; 1971 c 747 s 1; 1971 c 791 s 1; 1971 c 797 s
3,4; Ex1971 c 31 art 9 s 1; art 22 s 1,2,4,6,7,8; Ex1971 c 31
art 36 s 1; 1973 c 355 s 1,2; 1973 c 456 s 1; 1973 c 492 s 14;
1973 c 582 s 3; 1973 c 590 s 1; 1973 c 650 art 14 s 1,2; art 20
s 3; art 24 s 3; 1973 c 774 s 1; 1974 c 545 s 3; 1974 c 556 s
16; 1975 c 46 s 3; 1975 c 339 s 9; 1975 c 359 s 23; 1975 c 376 s
1; 1975 c 395 s 1; 1975 c 437 art 1 s 25,27,28; 1976 c 2 s
96,159-161,170; 1976 c 181 s 2; 1976 c 245 s 1; 1977 c 319 s
1,2; 1977 c 347 s 43,44; 1977 c 423 art 3 s 5-8; 1978 c 767 s
7-11; 1979 c 303 art 2 s 11 17; art 10 s 5; 1979 c 334 art 1 s
25; 1980 c 437 s 5; 1980 c 562 s 1; 1980 c 607 art 2 s 7 15; art
4 s 4; 1981 c 188 s 1; 1981 c 356 s 248; 1981 c 365 s 9; lSp1981
c 1 art 2 s 7-11; art 5 s 2; ISp1981 c 3 s 1; lSp1981 c 4 art 2
s 27; 2Sp1981 cis 6; 3Sp1981 c 1 art 1 s 2; 1982 c 523 art 6 s
1; art 14 s 1; art 23 s 2; 1982 c 642 s 9; 1983 c 216 art 1 s
43,44; 1983 c 222 s 11 13; 1983 c 342 art 2 s 9 18; art 8 s 1;
1984 c 502 art 3 s 9 14; art 7 s 1,2; 1984 c 522 s 2; 1984 c 593
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Minnesota Statutes 2005, 273.13
Page 13 of 13
s 22 28; 1984 c 654 art 5 s 58; 1985 c 248 s 70; 1985 c 300 s 6;
lSp1985 c 14 art 3 s 5-12; art 4 s 45-56; 1986 c 444; lSp1986 c
1 art 4 s 18-21; 1987 c 268 art 5 s 4; art 6 s 18,20-23; 1987 c
291 s 208 209; 1987 c 384 art 1 s 25; 1988 c 719 art 5 s 13-19;
1989 c 277 art 2 s 28,29; 1989 c 304 s 137; lSp1989 c 1 art 2 s
1-8,11; 1990 c 480 art 7 s 7; 1990 c 604 art 3 s 16 19; 1991 c
249 s 31; 1991 c 291 art 1 s 20-25; 1992 c 363 art 1 s 12; 1992
c 511 art 2 s 17,18; art 4 s 4,5; 1993 c 224 art 1 s 27; 1993 c
375 art 3 s 16; art 5 s 23-26; 1994 c 416 art 1 s 18,19; 1994 c
483 s 1; 1994 c 587 art 5 s 10,11; 1995 c 264 art 3 s 9,10; 1996
c 471 art 3 s 10-12; 1997 c 231 art 1 s 6-10; art 2 s 20,21;
3Sp1997 c 3 s 28; 1998 c 254 art 1 s 74; 1998 c 389 art 2 s
8-12; 1999 c 243 art 5 s 15-20; 1999 c 248 s 18; 1999 c 249 s
22; 2000 c 490 art 5 s 12,13; lSp2001 c 5 art 3 s 32-36; 2002 c
377 art 4 s 16,17; art 10 s 6; 2003 c 127 art 2 s 13,14; art 5 s
17; 2003 c 128 art 3 s 45; lSp2003 c 21 art 4 s 4; 2005 c 151
art 3 s 12; lSp2005 c 3 art 1 s 15,16
* NOTE: The amendment to subdivision 22, paragraph (b), by
*Laws 2003, chapter 127, article 2, section 13, is effective for
*taxes payable in 2005 and thereafter. Laws 2003, chapter 127,
*article 2, section 13, the effective date.
Copyright 2005 by the Office of Revisor of Statutes, State of Minnesota.
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Minnesota Statutes 2005, 274.01
Page 1 of3
Tabl~QLconj:~1ts for Cha!1Jer2-7A
274.0~ Board of appeal and equalization.
subdivision 1. Ordinary board; meetings, deadlines,
grievances. (a) The town board of a town, or the councilor
other governing body of a city, is the board of appeal and
equalization except (1) in cities whose charters provide for a
board of equalization or (2) in any city or town that has
transferred its local board of review power and duties to the
county board as provided in subdivision 3. The county assessor
shall fix a day and time when the board or the board of
equalization shall meet in the assessment districts of the
county. Notwithstanding any law or city charter to the
contrary, a city board of equalization shall be referred to as a
board of appeal and equalization. On or before February 15 of
each year the assessor shall give written notice of the time to
the city or town clerk. Notwithstanding the provisions of any
charter to the contrary, the meetings must be held between April
1 and May 31 each year. The clerk shall give published and
posted notice of the meeting at least ten days before the date
of the meeting.
The board shall meet at the office of the clerk to review
the assessment and classification of property in the town or
city. No changes in valuation or classification which are
intended to correct errors in judgment by the county assessor
may be made by the county assessor after the board has adjourned
in those cities or towns that hold a local board of reviewi
however, corrections of errors that are merely clerical in
nature or changes that extend homestead treatment to property
are permitted after adjournment until the tax extension date for
that assessment year. The changes must be fully documented and
maintained in the assessor's office and must be available for
review by any person. A copy of the changes made during this
period in those cities or towns that hold a local board of
review must be sent to the county board no later than December
31 of the assessment year.
(b) The board shall determine whether the taxable property
in the town or city has been properly placed on the list and
properly valued by the assessor. If real or personal property
has been omitted, the board shall place it on the list with its
market value, and correct the assessment so that each tract or
lot of real property, and each article, parcel, or class of
personal property, is entered on the assessment list at its
market value. No assessment of the property of any person may
be raised unless the person has been duly notified of the intent
of the board to do so. On application of any person feeling
, the board shall review the assessment or
classification, or both, and correct it as appears just. The
board may not make an individual market value adjustment or
classification change that would benefit the property if the
owner or other person having control over the property has
refused the assessor access to inspect the property and the
interior of any buildings or structures as provided in section
(c) A local board may reduce assessments upon petition of
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Minnesota Statutes 2005, 274.01
Page 2 of3
the taxpayer but the total reductions must not reduce the
aggregate assessment made by the county assessor by more than
one percent. If the total reductions would lower the aggregate
assessments made by the county assessor by more than one
percent, none of the adjustments may be made. The assessor
shall correct any clerical errors or double assessments
discovered by the board without regard to the one percent
limitation.
(d) A local board does not have authority to grant an
exemption or to order property removed from the tax rolls.
(e) A majority of the members may act at the meeting, and
adjourn from day to day until they finish hearing the cases
presented. The assessor shall attend, with the assessment books
and papers, and take part in the proceedings, but must not
vote. The county assessor, or an assistant delegated by the
county assessor shall attend the meetings. The board shall list
separately, on a form appended to the assessment book, all
omitted property added to the list by the board and all items of
property increased or decreased, with the market value of each
item of property, added or changed by the board, placed opposite
the item. The county assessor shall enter all changes made by
the board in the assessment book.
(f) Except as provided in subdivision 3, if a person fails
to appear in person, by counsel, or by written communication
before the board after being duly notified of the board's intent
to raise the assessment of the property, or if a person feeling
aggrieved by an assessment or classification fails to apply for
a review of the assessment or classification, the person may not
appear before the county board of appeal and equalization for a
review of the assessment or classification. This paragraph does
not apply if an assessment was made after the local board
meeting, as provided in section , or if the person can
establish not having received notice of market value at least
five days before the local board meeting.
(g) The local board must complete its work and adjourn
within 20 days from the time of convening stated in the notice
of the clerk, unless a longer period is approved by the
commissioner of revenue. No action taken after that date is
valid. All complaints about an assessment or classification
made after the meeting of the board must be heard and determined
by the county board of equalization. A nonresident may, at any
time, before the meeting of the board file written objections to
an assessment or classification with the county assessor. The
objections must be presented to the board at its meeting by the
county assessor for its consideration.
Subd. 2. Special board; duties delegated. The
governing body of a city, including a city whose charter
provides for a board of equalization, may appoint a special
board of review. The city may delegate to the special board of
review all of the powers and duties in subdivision 1. The
special board of review shall serve at the direction and
discretion of the appointing body, subject to the restrictions
imposed by law. The appointing body shall determine the number
of members of the board, the compensation and expenses to be
paid, and the term of office of each member. At least one
member of the special board of review must be an appraiser,
realtor, or other person familiar with property valuations in
the assessment district.
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03/24/2006
Minnesota Statutes 2005, 274.01
Page 3 of3
Subd. 3. Local board duties transferred to county.
The town board of any town or the governing body of any home
rule charter or statutory city may transfer its powers and
duties under subdivision 1 to the county board, and no longer
perform the function of a local board. Before the town board or
the governing body of a city transfers the powers and duties to
the county board, the town board or city's governing body shall
give public notice of the meeting at which the proposal for
transfer is to be considered. The public notice shall follow
the procedure contained in section 1-1_12-:.Qi, subdivision 2. A
transfer of duties as permitted under this subdivision must be
communicated to the county assessor, in writing, before December
1 of any year to be effective for the following year's
assessment. This transfer of duties to the county may either be
permanent or for a specified number of years, provided that the
transfer cannot be for less than three years. Its length must
be stated in writing. A town or city may renew its option to
transfer. The option to transfer duties under this subdivision
is only available to a town or city whose assessment is done by
the county.
HIST: (2034) RL s 847; 1941 c 402 s 1; 1945 c 402 s 1; 1949 c
543 s 1; Ex1967 c 32 art 8 s 3; 1971 c 434 s 3; 1971 c 564 s 6;
1973 c 123 art 5 s 7; 1973 c 150 s 1; 1973 c 582 s 3; 1975 c 339
s 5; 1977 c 434 s 11; 1986 c 444; 1987 c 229 art 4 s 1; 1987 c
268 art 7 s 37; 1988 c 719 art 7 s 8; 1990 c 480 art 7 s 14;
1995 c 264 art 3 s 13; 1997 c 231 art 2 s 23; 1998 c 254 art 1 s
77; 1999 c 243 art 5 s 25; lSp2001 c 5 art 7 s 21; 2003 c 127
art 5 s 22; lSp2005 c 3 art 1 s 18
* NOTE: The amendment to subdivision 1 by Laws 2005, First
*Special Session chapter 3, article 1, section 18, is effective
*for the 2006 assessment and thereafter. Laws 2005, First
*Special Session chapter 3, article 1, section 18, the effective
*date.
copyright 2005 by the Office of Revisor of Statutes, State of Minnesota.
linn' / /www.revisor.leg.state.mn.us/stats/274/01.html
03/24/2006
Minnesota Statutes 2005, 274.014
Page 1 of2
T<iblt::_o f gontentl'LLQI Chap~gL:n_4
274.014 Local boards; appeals and equalization course
and meeting requirements.
Subdivision 1. Handbook for local boards. By no
later than January I, 2005, the commissioner of revenue must
develop a handbook detailing procedures, responsibilities, and
requirements for local boards of appeal and equalization. The
handbook must include, but need not be limited to, the role of
the local board in the assessment process, the legal and policy
reasons for fair and impartial appeal and equalization hearings,
local board meeting procedures that foster fair and impartial
assessment reviews and other best practices recommendations,
quorum requirements for local boards, and explanations of
alternate methods of appeal.
Subd. 2. Appeals and equalization course. Beginning
in 2006, and each year thereafter, there must be at least one
member at each meeting of a local board of appeal and
equalization who has attended an appeals and equalization course
developed or approved by the commissioner within the last four
years, as certified by the commissioner. The course may be
offered in conjunction with a meeting of the Minnesota League of
Cities or the Minnesota Association of Townships. The course
content must include, but need not be limited to, a review of
the handbook developed by the commissioner under subdivision 1.
Subd. 3. Proof of compliance; transfer of duties. (a)
Any city or town that conducts local boards of appeal and
equalization meetings must provide proof to the county assessor
by December 1, 2006, and each year thereafter, that it is in
compliance with the requirements of subdivision 2. Beginning in
2006, this notice must also verify that there was a quorum of
voting members at each meeting of the board of appeal and
equalization in the current year. A city or town that does not
comply with these requirements is deemed to have transferred its
board of appeal and equalization powers to the county beginning
with the following year's assessment and continuing unless the
powers are reinstated under paragraph (c).
(b) The county shall notify the taxpayers when the board of
appeal and equalization for a city or town has been transferred
to the county under this subdivision and, prior to the meeting
time of the county board of equalization, the county shall make
available to those taxpayers a procedure for a review of the
assessments, including, but not limited to, open book meetings.
This alternate review process shall take place in April and May.
(c) A local board whose powers are transferred to the
county under this subdivision may be reinstated by resolution of
the governing body of the city or town and upon proof of
compliance with the s of subdivision 2. The
resolution and proofs must be provided to the county assessor by
December 1 in order to be effective for the following year's
assessment.
HIST: 2003 c 127 art 2 s 16; 2005 c 151 art 5 s 25,26
http://wW.N.revisor.leg.state.mn.us/stats/2 74/0 14.html
03/24/2006
Minnesota Statutes 2005, 274.014
Copyright 2005 by the Office of Revisor of Statutes, State of Minnesota.
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Page 2 of2
03/24/2006
Anoka County
City of Columbia Heights
Appraisal Terminology
CLASSIFICATION The class that a type of property is assigned. A property's
classification is based upon the existing use of the property. If the land is vacant and
there is no identifiable use, the proper classification would be the most probable use of
the land, which would most likely be determined by the zoning classification.
CLASSIFICATION RATES The class rate assigned to a particular classification of
property. Classification rates are established by the state legislature. Class rates are
the same upon the same class of property throughout Minnesota.
COEFFICIENT OF DISPERSION Average deviation of a group of numbers from the
median, expressed as a percentage of the median.
COEFFICIENT OF VARIATION Standard deviation expressed as a percentage of the
mean.
COMPARABLES (COMPARABLE SALES) Recently sold properties that are similar in
important respects to a property being appraised to assist in estimating the value of a
specific property.
COST APPROACH That approach in appraisal analysis which is based on the
proposition that the informed purchaser would pay no more than the cost of producing a
substitute property with the same utility as the subject property. It is particularly
applicable when the property being appraised involves relatively new improvements
which represent the highest and best use of the land or when relatively unique or
specialized improvements are located on the site and for which there exist no
comparable properties on the market.
DEPRECIATION A loss of utility and, hence, value from any cause. An effect caused
by deterioration and/or obsolescence. Deterioration or physical depreciation is
evidenced by wear and tear, decay, dry rot, cracks, encrustational or structural defects.
Obsolescence is divisible into two parts, functional and economic. Functional
obsolescence may be due to poor floor plan, mechanical inadequacy or over adequacy,
functional inadequacy or over adequacy due to size, style, age, etc. It is evidenced by
conditions within the property. Economic obsolescence is caused by changes external
to the property, such as neighborhood infiltrations of inharmonious groups or property
uses, legislation, etc. It is also the actual decline in market value of the improvement to
land from time of purchase to the time of resale.
· CURABLE DEPRECIATION Those items of physical deterioration and
functional obsolescence which are economically feasible to cure and hence are
customarily repaired or replaced by a prudent property owner. The estimate of
this depreciation is usually computed as a dollar amount of the cost-to-cure.
· INCURABLE DEPRECIATION Elements of physical deterioration or functional
obsolescence which either cannot be corrected; or, if possible to correct,
cannot be corrected except at a cost in excess of their contribution to the value
of the property.
55
Anoka County City of Columbia Heights
PHYSICAL DEPRECIATION A reduction in utility resulting from an impairment of
physical condition. For purposes of appraisal analysis, it is most common and
convenient to divide physical deterioration into curable and incurable components.
. PHYSICAL CURABLE DEPRECIATION Physical deterioration which the
prudent buyer would anticipate correction upon purchase of the property. The
cost of effecting the correction or cure would be no more than the anticipated
addition to utility, and hence ultimately to value, associated with the cure.
. PHYSICAL INCURABLE DEPRECIATION Physical deterioration which in
terms of market conditions as of the date of the appraisal is not feasible or
economically justified to correct. The cost of correcting the condition or
effecting a cure is estimated to be greater than the anticipated increase in
utility, and hence ultimately in value of the property that will result from
correcting or curing the condition.
FUNCTIONAL DEPRECIATION Impairment of functional capacity or efficiency.
Functional obsolescence reflects the loss in value brought about by such factors as
overcapacity. inadequacy and changes in the art, that affect the property item itself
or its relation with other items comprising a larger property. The inability of a
structure to perform adequately the function for which it is currently employed.
. FUNCTIONAL CURABLE DEPRECIATION Functional obsolescence which
may be corrected or cured when the cost of replacing the outmoded or
unaccep-table component is at least offset by the anticipated increase in utility,
and hence ultimately in value, resulting from the replacement.
. FUNCTIONAL INCURABLE DEPRECIATION Functional obsolescence that
results from structural deficiencies or superadequacies that the prudent
purchaser or owner would not be justified in replacing, adding or removing,
because the cost of effecting a cure would be greater than the anticipated
increase in utility resulting from the replacement, addition or removal.
ECONOMIC OBSOLESCENCE Impairment of desirability or useful life arising
from factors external to the property, such as economic forces of environmental
changes which affect supply-demand relationships in the market. Loss in the use
and value of a property arising from the factors of economic obsolescence is to be
distinguished from loss in value from physical deterioration and functional
obsolescence, both of which are inherent to the property. Also referred to as
Locational or Environmental Obsolescence.
EASEMENT A right held by one person to use the land of another for a specific purpose
such as access to other property.
EQUALIZATION The adjustment of estimated market valuation of real property in a
particular area to establish a more equitable division of the total tax burden within the
area.
ESTIMATED MARKET VALUE Represents the assessor's estimate of the property's
actual market value. Market value is defined as the most probable price that a well
informed buyer would pay a well informed seller for a property without either party being
unduly forced to buy or sell. In other words, what the property would likely sell for if it
56
Anoka County
City of Columbia Heights
were to be sold in an arm's length transaction. Although the sale price of a property
often reflects the market value; market value and sale price are not always
synonymous.
GRADING OF PROPERTY The process used by an appraiser to identify the quality of
construction in the physical structure.
HIGHEST AND BEST USE That reasonable and probable use that will support the
highest present value, as defined, as of the effective date of an appraisal.
HOMESTEAD For property tax purposes, homestead is a tax benefit granted to
property owners (or qualifying relatives) who are Minnesota residents and who own and
occupy their home as their primary place of residence. Homestead is a fact question
which may require the assessor to utilize a number of indicators to determine if it is
being appropriately claimed. Although factors such as mailing address and drivers
license may sometimes be useful indicators to determine where a person lives, in the
final analysis, the question comes down to, "Is the residence occupied as the
applicant's primary place of residence?" In other words, do they actually live there?
If the answer is no, no amount of supporting documentation such as voter registrations
or mailing addresses can alter the fact.
IMPROVED LAND Land having either on-site improvements, off-site improvements or
both.
IMPROVEMENT A structure or building permanently attached to the land.
INCOME APPROACH That procedure in appraisal analysis which converts anticipated
benefits (dollar income or amenities) to be derived from the ownership of property into a
value estimate. The income approach is widely applied in appraising income-producing
properties. Anticipated future income and/or revisions are discounted to a present worth
figure through the capitalization process.
INDEX OF REGRESSION Mean assessment ratio divided by the sales
weighted-aggregate ratio.
LEGAL DESCRIPTION A statement containing a designation by which land is identified
according to a system set up by law or approved by law.
LIMITED MARKET VALUE A limitation which is imposed on how much the taxable
value of certain classes of property (agricultural homestead or nonhomestead,
residential homestead or nonhomestead, noncommercial seasonal recreational
residential) can increase over the preceding year's value. This limit does not apply to
an increase in your value due to improvement made to the property.
MARKET APPROACH Traditionally, an appraisal procedure in which the market value
estimate is predicated upon prices paid in actual market transactions and current
listings, the former fixing the lower limit of value in a static or advancing market (price
wise), and fixing the higher limit of value in a declining market; and the latter fixing the
higher limit in any market. It is a process of analyzing sales of similar recently sold
properties in order to derive an indication of the most probable sales price of the
property being appraised. The reliability of this technique is dependent upon (a) the
availability of comparable sales data, (b) the verification of the sales data, (c) the degree
57
Anoka County
City of Columbia Heights
of comparability or extent of adjustment necessary for time differences; and (d) the
absence of non-typical conditions affecting the sale price.
MASS APPRAISING A method used in revaluation of a community for tax purposes.
As the term implies, it is a method of appraising a large number of properties at one time
by adopting standard techniques, and giving due consideration to the appraisal process
so that uniformity or equality of values may be achieved between all properties.
MEAN ASSESSMENT RATIO Total of ratios divided by number of properties.
MEDIAN ASSESSMENT RATIO Middle assessment ratio or the average of the two
middle terms when the ratios are lined up from low to high.
METES AND BOUNDS A description of a parcel of land by reference to the courses
(bearings, that is, the angles East or West of due North and due South) and distances
(usually feet or chains) of each straight line which forms its boundary, with one of the
corners tied to an established point; that is, the bearing and distance from an established
point, such as a section corner or to the intersection of the center lines of two roads, etc.
If one part of the boundary is on a curve, this part is described by showing the number of
degrees of the central angle subtended by the curve (arc), the length of the radius and
the length along the curve.
MODE Assessment-ratio that appears most frequently.
NET TAX CAPACITY New for payable 1990. Is used to extend taxes in accordance to
multiplying the market value by the appropriate class rate.
OBSOLESCENCE One of the causes of depreciation. It is the impairment of
desirability and usefulness brought about by new inventions, current changes in design
and improved processes for production, or from external influencing factors, which make
a property less desirable and valuable for a continued use. Obsolescence may be either
economic or functional.
PARCEL A piece of land, regardless of size in one ownership.
PROPERTY CLASS The class that has been assigned to the property based upon the
use of the property.
PROPERTY IDENTIFICATION NUMBER A geographically related parcel numbering
system. The number contains twelve digits made up of section, township, range,
quarter-quarter and parcel. The first six digits, based on the public land survey,
geographically locate the section in which the property is located. The next two digits
will designate in which quarter-quarter the property is located. The ninth through twelfth
digits indicate the parcel within the quarter-quarter. The parcels will be numbered
consecutively beginning with 0001. When a division is made, the next consecutive
available number(s) will be assigned, and the old number(s) will be retained for historical
data.
RANGE Difference between the high sales ratio and the low sales ratio.
58
Anoka County
City of Columbia Heights
REVALUATION The mass appraisal of all property within an assessment jurisdiction to
obtain equalization of estimated market values. Reappraisal of a former assessment.
SALES ASSESSMENT RATIO The ratio derived by dividing the estimated market value
by the selling price.
AGGREGATE RATIO The ratio determined by dividing the total estimated market
value of all sales by the total selling prices.
AVERAGE MEAN The total of all the ratios in a given set divided by the number
of items in the set.
MEDIAN RATIO The value of the middle item where an odd number of items are
arranged (arrayed) according to size, or the arithmetic average of the two central
items if there is an even number of items. It is a positional average and is not
affected by the size of extreme values.
SALES WEIGHTED AGGREGATE RATIO Total of assessment values divided by total
of selling price.
SAMPLE SUFFICIENCY GAUGE Square root of half the range divided by the number
of properties.
SPECIAL ASSESSMENT A charge made by government against real estate to defray
the cost of making a public improvement adjacent to the property which, while of general
community benefit, is of special benefit to the property so assessed.
STANDARD DEVIATION Square root of total of squared deviations from mean divided
by number of properties.
TAX CAPACITY RATE (Local Tax Rate): Determined by dividing a taxing district's
property tax levy by the taxing district's total net tax capacity. The tax capacity rate is
expressed as a percentage of net tax capacity.
TOPOGRAPHY The contour of land surface, Le., flat, rolling, mountainous, etc.
TRUTH IN TAXATION Provides taxpayers with a preliminary property tax notifica-tion if
any taxing district proposes to increase taxes through proposed budget increases.
Included on the notification is the market value, classification, a proposed tax by taxing
district, and time and place of taxing district budget hearings.
UNIMPROVED LAND Land without buildings, in its natural state.
VACANT LAND Land without buildings. Mayor may not have improvements such as
grading, sewer, etc.
VALUE EXEMPTION FOR CERTAIN IMPROVEMENTS (THIS OLD HOUSE)
Qualifying homes, 35 years or older, were previously eligible to receive a temporary
exemption on all or a portion of the assessor's estimated value for certain newly
constr' '^tod impr"'''ernant" ",ith ,..,n """ses"e.. rI "a1ue ",f $1 0(\(\ "''" m"''"e 'If ,.., bu'llding n",,"rnit
I . lU'V C HI VV Illvlll..:;J VVI II all au . ...:;)--"U VI ~ VI . I, VV VI I VI . ( 01 I tJvllflll
was issued by June 30, 1999. Legislative action in 1999 amended this law effective July
1, 1999 that to qualify for exemption of improvements from the property tax, the property
59
Anoka County
City of Columbia Heights
must be 45 years of age or older at the time the improvements commence and the
property must be receiving the homestead classification. The minimum assessed value
must be $5,000 for eligible improvement. This includes properties classified as
residential homestead (including duplexes and triplexes), blind/paraplegic
veteran/disabled homestead and agricultural homestead. In addition, the owner must
have taken out a building permit and file an application for the exemption with the
assessor. This law has since expired and only improvements made prior to January 2,
2003 are eligible.
60
Anoka County
City of Columbia Heights
Appeals Procedure
Each spring Anoka County sends out a property tax bill (based on the prior year assessment)
along with a notice of the new assessment. Three factors that affect the tax bill are:
1. The amount your local governments (town, city, county, etc.) spend to provide services to
your community;
2. The estimated market value of your property;
3. The classification of your property (how it is used).
The assessor determines the final two factors. You may appeal the value or classification of
your property as described below.
Informal Appeal
.
Property owners are encouraged to call the appraiser or assessor whenever they have
questions or concerns about their market value, classification of the property, or the
assessment process.
.
Almost all questions can be answered during this informal appeal process.
.
When taxpayers call questioning their market value, every effort is made to make an
appointment to inspect properties that were not previously inspected.
.
If the data on the property is correct, the appraiser is able to show the property owner
other sales in the market that support the estimated market value.
.
If errors are found during the inspection, or other factors indicate a value reduction is
warranted, the appraiser can easily make the changes at this time.
Local Board of Appeal and Equalization
.
The Local Board of Appeal and Equalization is typically made up of city council
members or township board members.
.
The Board meets during late April and early May.
.
Taxpayers can make their appeal in person or by letter.
.
The assessor is present to answer any questions and present evidence supporting their
value.
County Board of Appeal and Equalization
In order to appeal to the County Board of Appeal and Equalization, a property owner must
first appeal to the Local Board of Appeal and Equalization.
61
Anoka County
City of Columbia Heights
.
The County Board of Appeal and Equalization follows the Local Board of Appeal and
Equalization in the assessment appeals process.
.
Their role is to ensure equalization among individual assessment districts and classes
of property.
.
The board meets during the Final ten working days in June.
.
A taxpayer must first appeal to the local board before appealing to the county board.
Decisions of the County Board of Appeal and Equalization can be appealed to tax court.
Minnesota Tax Court
The Tax Court has statewide jurisdiction. Except for an appeal to the Supreme Court, the
Tax Court shall be the sole, exclusive and final authority for the hearing and determination of
all questions of law and fact arising under the tax laws of the state. There are two divisions of
tax court: the small claims division and the regular division.
The Small Claims Division of the Tax Court only hears appeals involving one of the
following situations:
. The assessor's estimated market value of the property is <$300,000
. The entire parcel is classified as a residential homestead and the parcel contains no
more than one dwelling unit.
. The entire property is classified as an agricultural homestead.
. Appeals involving the denial of a current year application for homestead classification of
the property.
The proceedings of the small claims division are less formal and property owners often
represent themselves. There is no official record of the proceedings. Decisions made by
the small claims division are final and cannot be appealed further. Small claims
decisions do not set precedent.
The Regular Division of the Tax Court will hear all appeals, including those with the
jurisdiction of the small claims division. Decisions made here can be appealed to a higher
court.
The principal office for the Tax Court is located in St. Paul. However, the Tax Court is a
circuit court and can hold hearings at any other place within the state so that taxpayers may
appear with as little inconvenience and expense to the taxpayer as possible. Appeals of
property located in Anoka County are heard at the Anoka County Courthouse, with trials
scheduled to begin on Thursdays. Three judges make up the Tax Court. Each may hear
and decide cases independently. However, a case may be tried before the entire court under
certain circumstances.
The petitioner must file in tax court on or before April 30 of the year in which the tax is
payable.
The following page is a sample Valuation Notice.
62
52645
Notice of Valuation and Classification - County of Anoka
- This is not a bill -
This form is to notify you of the market value and classification of your
property for assessment year 2006. The property taxes you will pay in
2007 will be based on this valuation and classification.
I Taxable Market Value
local Board of Appeal and Equalization
Date of Local Board of Appeal and Equalization
Location of Local Board of Appeal and Equalization
Property Records and Taxation
Michael R. Sutherland
Anoka County Assessor
2100 3rd Avenue
Anoka, MN 55303-2281
(763)323-5475
Owner Name
Owner Mailing Address
If you believe your valuation and property
class are correct, it is not necessary to .
contact your assessor Or attend any listed
meeting. .
If the property information is not correct, you
disagree with the values, or you have other
questions about this notice, please contact
your assessor first to discuss any
questions orconcems. Often your issues
can be resolved at this level.
If yourquestions or concems are not
resolved, more formal appeal options are
available. Please read the back of this notice
for important information about the formal
appeal process.
Property Information (legal description and/or property address)
Property Legal Description
Parcel'.D.: 00-00-00-00-0000
. .... -, .'
Property Classification
Assessment Year 2005
. Res Hstd
Assessment Year 2006
Res Hstd
Property. Valuation
Estimated Market Value
Assessment Year
2005
$ 145,700
Assessment Year
2006
$ 168,700
Limited Market Value
$
140,300
$
161,300
$
140,300
$
161,300
TO APPEAR CALL LOCAL ASSESSOR AT 763-323-'
County Board of Appeal and Equalization
June 19, 2006 - 9:00 AM
ANOKA COUNTY GOVERNMENT CENTER
COUNTY BOARDROOM
2100 3RD AVE
ANOKA MN 55303
TO APPEAR CALL 763-323-5475
Please read the back of this notice for important appeal information.
Appealing the value or dassification of your property
Informal appeal options - Contact assessor
If you disagree with the classification or estimated market value for your
property for 2006, please contact your assessor's office first to discuss your
concerns, Often your issues can be resolved at this level. Contact
information for your assessor's office is on the other side of this notice.
Some jurisdictions choose to hold open book meetings to allow property
owners to discuss their concerns with the assessor. If this is an option
available to you, the meeting time(s) and location(s) will be indicated on the
other side of this notice.
Formal appeal options
If your questions or concerns are not resolved after meeting with your
assessor, you have two formal appeal options:
Option 1 - The Boards of Appeal and Equalization 1
You may appear before the Boards of Appeal and Equalization in person,
through a letter, or through a representative authorized by you. The meeting
times and locations are on the other side of this notice. You must have
presented your case to the local Board of Appea! and Equalization I
BEFORE going to the County Board of Appeal and Equalization.
Step 1 - Local Board of Appeal and Eaualization
If you believe your value or classification is incorrect, you may bring your
case to the Local Board of Appeal and Equalization. Please contact your
assessor's office for more information. If your city or township no longer has
a Local Board of Appeal and Equalization (as indicated on the other side of
this notice) you may appeal directly to the County Board of Appeal and
Equalization.
Step 2 - Count" Board of Appeal and EQualization
If the Local Board of Appeal and Equalization did not resolve your concerns,
you may bring your case to the County Board of Appea! and Equalization.
You must call in advance to get on the agenda. Please contact the county
assessor's office to get on the agenda or for more information.
I Option 2 - filiirmesota Tax Court
Smail Claims Division
You may take your case directly to the Small Claims Division of Tax Court if:
" The assessor's estimated market value of your property is less than
$300,000; or
.. The entire parcel is classified as a residential homestead (1a or 1b) and the
parcel contains no more than one dwelling unit; or
" The entire property is classified as an agricultural homestead (2a or 1b); or
II You are appealing the denial of a current year application for homestead
classification of your property.
I Regardless of your property or nature your you
I the option to file directly with the Regular Division of Tax Court.
You have until April 30, 2007, to file an appeal with the Small Claims Division
i or the Regular Division of Tax Court for your 2006 valuation and classification.
more contact the Minnesota Court:
25 Rev. Dr. Martin Luther King, Jr. Blvd, Room 245, St. Paul, MN 55115
Phone: website: www.taxcourt.state.mn.us
For more infonnatiolJ on appeals, check out the Department of Revenue website: http://taxes,state.n1l7l1s/taxes
Definitions
Property Classification - The statutory
classification that has been 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 real estate tax payable. Please
compare the 2005 and 2006 classifications listed on
the other side of this statement.
Estimated Market Value - This value is what the
assessor estimates your property would likely sell for
on the open market. State law requires assessors to
value property at 100 percent of market value.
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. These improvements are
not eligible for limited market value.
Limited Market Value - Limits how much the
taxable value of certain properties can increase. With
the exception of new improvements, the value is
limited to the greater of: 1) 15 percent increase over
last year's limited market value or 2) 25 percent of
the difference between this year's estimated market
value and last year's limited market value. This only
applies to agricultural, residential, timberland, or
noncommercial seasonal recreational residential
(cabins) property.
Green Acres - Only applies to agricultura! 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 not development
pressure. The taxes on the higher value are
deferred until the property is sold or no longer
qualifies for the program.
Plat Deferment - For 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 added over a phase-in period.
If construction begins before the expiration of the
phase-in period, the lot will be assessed at full
market value in the next assessment.
This Old House Exclusion - Applies only to
homestead property 45 years of age or older and
valued at less than $400,000. Improvements that
increase the estimated market value by $5,000 or
more may have some of the value deferred for a
maximum of 10 years. After this time, the deferred
value will be phased in. Only improvements made
before Jan. 2, 2003, and assessed the
2003 assessment will for this
Taxable Market Value - This is the value that your
property taxes are actually based on, after a/l
reductions, limitations, exemptions and deferrals
Your 2006 value, along with the class rate and the
budgets of your local government, will determine how
much you will pay in taxes in 2007.
Anoka County City of Columbia Heights
2005 Residential Real Estate Activity Report
by the Minneapolis Area Association of Realtors.
The 2005 Residential Real Estate Activity Report was produced
by the Minneapolis Area Association of Realtors and is available on their web site at
this link:
65
The Minneapolis Area Association of REALTOR SO') (MAAR) has
published market reports on the Twin Cities residential real
estate market since 1960. The scope and detail of the reports
have expanded dramatically over the years, guided by MAAR's
continuing mission to provide the region with the most
thorough and valuable market research and analysis possible.
Th is report is a comprehensive summary of activity reported to
the Twin Cities' Regional Multiple Listing Service in 2005. You'll
find current and historical analysis of market trends, projections
for the coming years, and raw data for your own research
project whatever it may be.
For more data and analysis on the Twin Cities market - as well
as information on how MAAR market research tools can add
value to your business - please visit www.mplsrealtor.cgm.
,'1: 1
_'J-
^
,-, :Y,
MINNEAPOLIS AREA Association
of REALTORS'
2005 HOME SALES AS REPORTED
I DISTRICT TOTAL BEDROOMS DOLLAR AVERAGE MEDIAN
NUMBER & NAME SALES 1 2 3 4+ VOLUME PRICE PRICE
Minneapolis
300 Mpls-Calhoun-Isles 662 204 222 110 121 $244,448,783 $372,068 $255,000
301 Mpls-Camden 649 15 183 358 93 $110,648,915 $170,491 $163,900
302 Mpls-Central 1,328 792 449 49 5 $383,934,789 $290,640 $247,045
303 Mpls-Longfellow 423 17 155 186 65 $97,346,118 $230,133 $211,000
304 Mpls-Nokomis 1,070 59 342 526 138 $250,192,867 $234,483 $223,450
305 Mpls-North 427 10 71 216 130 $70,623,497 $166,173 $159,000
306 Mpls-Northeast 501 22 131 265 80 $104,936,431 $209,454 $205,900
307 Mpls-Phillips 112 5 30 45 32 $20,311,975 $181,357 $174,500
308 Mpls-Powderhorn 395 40 91 176 88 $76,087,227 $192,626 $193,400
309 Mpls-Southwest 995 63 245 508 176 $332,057,265 $334,398 $285,000
310 Mpls-University 159 36 50 42 30 $40,212,574 $252,909 $239,414
Suburban and other areas
340 Buffalo 441 6 115 192 128 $104,056,225 $235,955 $200,000
341 Wright County (Except Buffalo) 2,151 45 577 904 620 $518,451,426 $241,140 $218,000
342 Hutchinson 352 3 90 150 109 $61,104,694 $173,593 $158,250
343 Mcleod County 288 3 79 143 63 $47,057,702 $ 163,395 $157,494
360 Robbinsdale 273 16 69 148 40 $52,866,762 $193,651 $196,900
361 Crystal 413 7 87 247 72 $83,220,384 $201,502 $197,500
362 New Hope 326 20 41 152 113 $71,548,353 $219,473 $224,400
363 Brooklyn Center 482 5 83 277 117 $93,567,976 $194,124 $195,000
364 Brooklyn Park 1,466 18 293 514 641 $362,932,256 $248,074 $229,000
365 Maple Grove/Osseo 1,405 2 405 468 530 $407,918,933 $290,334 $242,000
366 Champlin 463 1 90 193 179 $117,376,503 $253,513 $226,900
367 Hennepin-North 231 2 37 70 122 $68,304,934 $295,692 $285,000
368 Hen nepi n-Northwest 253 1 16 85 151 $131,625,962 $520,261 $393,000
370 Sibley County 109 1 26 53 28 $17,289,364 $160,087 $146,100
373 Golden Valley 398 6 70 188 134 $124,381,510 $312,516 $260,500
374 Plymouth 1,253 32 385 367 468 $4U5,481,194 $323,608 $290,000
378 Richfield 664 93 132 335 104 $146,663,818 $221,212 $221,000
379 Bloomington-East 419 28 86 210 95 $91,411,052 $218,165 $221,450
380 Bloomington-West 797 43 183 305 265 $224,374,106 $281,523 $249,900
381 Lake Minnetonka 919 20 139 332 427 $577,869,616 $629,488 $427,750
385 Edina 791 59 195 255 280 $356,053,243 $450,131 $360,000
386 Hopkins 264 33 101 100 30 $55,757,388 $211,202 $194,450
387 Minnetonka 808 56 222 280 250 $285,352,159 $353,159 $290,000
391 Saint Louis Park 912 90 260 450 111 $225,944,273 $248,018 $230,000
392 Eden Prairie 1,307 53 344 367 534 $488,085,327 $374,874 $294,000
394 Carver County 631 2 108 296 225 $163,363,004 $258,895 $235,010
396 Chanhassen 467 1 132 125 209 $164,992,111 $353,302 $290,000
397 Chaska 479 5 128 182 164 $134,618,875 $281,629 $241,000
398 Victoria 140 0 13 36 91 $66,377 ,887 $474,128 $386,250
Division H
600 West SI. Paul 288 13 90 119 66 $60,911,409 $211,498 $202,500
602 South 51. Paul 305 14 90 148 52 $61,185,851 $200,609 $197,500
604 Mendota/Lilydale/Mendota Heights 142 5 26 56 55 $56,597,046 $398,571 $343,000
605 Sunfish Lake 5 0 0 1 4 $3,787,500 $757,500 $650,000
608 Inver Grove Heights 453 1 168 151 133 $124,905,238 $275,729 $221,000
610 Eagan 1,292 52 438 383 419 $327,828,876 $254,526 $231,025
612 Burnsville 1,006 31 317 322 335 $246,612,360 $245,142 $235,500
614 Apple Valley 1,065 24 388 334 319 $265,141,777 $249,193 $223,000
616 Rosemou nt 487 1 116 200 170 $129,287,034 $266,023 $238,200
617 Hastings 409 2 117 172 118 $92,171,383 $225,358 $202,500
618 Eastern Dakota County 28 0 1 15 12 $9,232,940 $329,7 48 $300,000
624 Farmington 652 0 175 242 235 $156,239,603 $239,999 $229,900
626 Lakeville 1,058 3 160 375 520 5331,559,956 $313,680 $279,000
628 Southern Dakota County 45 0 7 13 25 $13,479,278 $299,540 $265,000
630 Northfield 353 4 106 135 108 $89,856,232 $254,550 $233,000
632 Rice County 449 7 92 216 133 $95,562,930 $212,835 $193,800
640 5hakopee 872 4 263 341 264 $227,432,521 $260,817 $217,900
642 Prior Lake 614 22 122 227 243 $230,841,644 $376,577 $293,000
644 Savage 551 0 87 215 249 $158,935,000 $288,448 $264,900
646 Jordan 112 0 16 49 47 $32,162,582 $287,166 $256,000
648 New Prague 377 2 67 169 138 $109,107,330 $289,409 $253,000
650 Belle Plaine 201 1 43 92 65 $44,748,552 $222,630 $217 ,000
658 Lesueur County 276 2 74 139 61 $50,817,471 $184,791 $165,000
660 Goodhue County 511 8 119 215 169 $101,021,276 $197,693 $169,000
Division i
702 Falcon Hghts/Lauderdale/Rseville 499 38 109 254 98 $125,209,290 $251,424 $233,000
705 Lino Lakes/Hugo/Centerville 686 0 161 274 251 $206.804,490 $301,904 $271,800
706 North Central Surburban 355 8 113 100 134 $114,621,616 $322,878 $251,900
707 Ham Lake 197 1 13 65 118 $71,578,589 $363,343 $366,500
708 White Bear Area 696 8 182 274 232 $211,245,265 $303,513 $244,900
709 Forest Lake Area 486 4 97 217 168 $137,545,473 $283,599 $248,893
710 Northeast An,oka County 105 2 18 59 24 $30,090,825 $286,579 $274,000
711 Southern Ch.sago County 737
712 Maplewood/North SI. Paul 717
713 Bethel 189
714 SP-Phalen 455
716 SP-Hillcrest/Hazel Park/Dytons Blff 736
720 SP-Southeast SI. Paul 148
721 Lakeland/AftonlDenmark 90
722 Newport/St. Paul PrkfCottage Grove 762
725 Pine Springs/Lake Elmo/Oakdale 570
726 Woodbury 9
727 Stillwater/Bayport
728 5P-Riverview/Cherokee 168
738 SP-Home Croft/W 7Th 113
740 SP-Crocus Hill 327
2 . 2005 Residential Activity Report. February 2006
10
14
1
3
18
1
o
3
o
9
7
3
6
99
.78
158
32
103
185
32
11
120
186
465
140
35
38
114
343
342
101
251
406
85
35
334
206
203
55
98
126
30
44
305
220
164
581
209
35
20
64
363
210
95
49
49
$178,194,060
$170.092,044
$51,325,489
$82.818,436
$131,570,553
$31,171,113
$34,700,900
$184,626,409
$144,498,132
$437,365,176
$193,478,096
$32.105,823
$20,125,814
$108,299.704
$241.783
$237,227
$271,563
$182,019
$178,764
$210,616
$385,566
$242,292
5253,505
5308,438
$341,231
$191,106
$178,105
$332,208
$221,000
$219,900
$260,000
$177,675
$178,950
$208,450
$310,600
$222,600
$223.500
5282.5UU
5289,000
$182,250
$179,000
5254,380
(Continued on page 6)
TOTAL BEDROOMS DOLLAR AVERAGE MEDIAN
AME SALES 2 3 4+ VOLUME PRICE
Minneapolis
300 Mpls-Cal houn-Isles 670 190 198 158 120 $247,598,524 $370,656 $258,958
301 Mpls-Camden 796 28 215 454 99 $126,655,101 $159,716 $157,000
302 Mpls-Central 539 206 277 35 5 $168,454,607 $314,868 $267,000
303 Mpls-longfeliow 424 17 158 192 56 $91,122,383 $214,911 $199,900
304 Mpls-Nokomis 1,070 49 332 539 149 $239,182,021 $223,953 $210,000
305 Mpls-North 465 10 85 228 140 $77,689,445 $167,074 $149,900
306 Mpls-Northeast 529 22 162 285 60 $105,437,659 $200,452 $195,650
307 Mpls-Phillips 108 1 20 50 36 $18,210,915 $168.620 $167,750
308 Mpls-Powderhorn 406 30 113 191 71 $73,209,742 $180,765 $182,300
309 Mpls-Southwest 1,041 57 247 538 196 5327,555,648 $314,957 $268,750
310 Mpls-University 188 30 86 40 30 544,502,000 $237,979 $235,000
Suburban and other areas
340 Buffalo 451 2 123 200 126 $100,523,831 $222,891 $204,000
341 Wright County (Except Buffalo) 2,092 62 612 833 584 5460,232,007 $219,996 $197,300
342 Hutchinson 298 2 72 151 73 $46,231,142 $155,138 $142,200
343 Mcleod County 288 2 72 137 77 $46,238,315 $161,672 $142,638
360 Robbinsdale 295 4 56 199 36 $56,293,089 $190,824 $189,900
361 Crystal 428 3 84 278 63 $81,037,844 5189,784 $186,500
362 New Hope 283 10 33 138 101 $59,378,716 $209,819 $216,900
363 Brooklyn Center 558 4 109 311 134 $102,291,738 5183,319 $183,450
364 Brooklyn Park 1,531 20 312 558 641 $348,998,130 $228,103 $215,050
365 Maple Grove/Osseo 1,483 10 450 510 513 $390,832,039 $263,719 $224,900
366 Champlin 484 0 92 206 186 $115,548,629 $239,231 $217,500
367 Hennepin-North 249 2 39 92 116 $68,405,518 5275,829 $249,250
368 Hennepin~Northwest 273 2 26 99 144 $132,338,085 $486,537 $343,000
370 Sibley County 95 0 25 41 29 $13,025,290 $137,108 $135,000
373 Golden Valley 370 3 85 171 111 $105,998,609 5287,259 $249,000
374 Plymouth 1,231 32 384 344 465 $381,655,706 $310,289 $273,750
378 Richfieid 547 16 130 317 84 5115,632,881 $211,395 $210,000
379 Bloomington-East 396 33 106 187 70 $77,989,356 $197,441 $205,000
380 Bloomington-West 850 39 203 341 266 $220,350,399 $259,541 $234,900
381 Lake Minnetonka 1,018 25 153 371 467 $595,024,061 $585,078 $400,000
385 Edina 909 61 235 285 324 $364,502,512 $402,321 $322,250
386 Hopkins 296 45 117 96 38 $54,300,634 $183,448 $176,450
387 Minnetonka 847 50 225 299 271 $286,781,671 $338,985 $280,000
391 Saint Louis Park 974 101 290 472 108 $224,037,023 $230,017 $215,000
392 Eden Prairie 1,344 21 386 393 543 $468,576,651 $348,903 $281,200
394 Carver County 651 0 128 287 236 $163,551,690 $251,231 $221,000
396 Chanhassen 476 2 140 114 220 $168,409,161 $353,801 $284,250
397 Chaska 510 7 120 187 196 $138,576,266 5273,326 $233,600
398 Victoria 111 0 8 38 65 $40,641,977 $369,473 $347,500
Division !!
600 West St. Paul 298 8 82 152 56 $59,398,226 $199,323 $189,900
602 South St, Paul 353 10 122 169 52 $62,933,496 $178,282 $180,000
604 Mendota/Lilydale/Mendota Heights 135 2 28 43 61 $49,157,843 $366,850 $317,550
605 Sunfish Lake 10 0 0 1 9 $9,333,121 $933,312 $807,500
608 Inver Grove Heights 458 2 175 154 127 $115,657,601 $252,528 $208,250
610 Eagan 1,355 38 400 468 449 $331,094,905 $244,712 $223,700
612 Burnsville 1,103 28 372 354 349 $252,971,417 $229,557 $221,500
614 Apple Valley 1,219 17 461 375 366 $279,459,448 $229,441 $208,450
616 Rosemount 463 1 120 200 142 5115,283,557 $249,532 $226,000
617 Hastings 432 3 123 174 132 598,921,877 $229,517 $204,412
618 Eastern Dakota County 15 0 1 9 5 $4,042,600 $269,507 $259,900
624 Farmington 642 2 166 226 248 $152,983,401 $238,664 $221,100
626 lakeville 1,080 6 149 367 557 $324,411,556 $300,381 $267,500
628 Southern Dakota County 38 0 3 20 15 $10,107,941 5265,998 $243,450
630 Northfield 356 4 95 135 122 $86,188,900 $242,104 $219,950
632 Rice County 418 5 71 221 120 $79,780,241 $191,320 5171,900
640 Shakopee 830 7 268 297 258 $201,069,841 $242,545 $20:;,900
642 Prior lake 608 8 121 243 236 $198,307,851 $326,702 5274,000
644 Savage 574 8 92 190 284 $161,174,649 $280,792 $259,000
646 Jordan 101 1 16 43 41 $26,239,084 5259,793 $229,500
648 New Prague 379 4 86 154 135 $94,910,243 $250,423 $224,900
650 Belle Plaine 185 0 41 96 48 $41,468,034 5224,152 5209,000
658 Lesueur County 281 3 73 135 68 544,877,198 $159,705 5146,000
660 Goodhue County 479 4 133 211 130 $88,762,064 5185,307 5164,900
Division!
702 Falcon Hhts/lauderdale/Rseville 527 35 133 241 118 $124,529,416 5236,748 $229,000
705 Lino lakes/Hugo/Centerville 574 0 116 240 218 $159,474,189 5277 ,830 $250,000
706 North Central Surburban 376 14 127 126 109 $110,506,879 5293,901 $224,900
707 Ham Lake 233 3 21 78 128 582,218,193 $352,868 5343,400
708 White Bear Area 797 16 183 335 263 $232,917,779 $292,243 5235,000
709 Forest lake Area 578 10 135 246 187 $153,703,781 $266,384 $244,900
710 Northeast Anoka County 85 0 15 41 29 $23,850,308 $280,592 $272,269
711 Southern Chisago County 791 10 212 374 194 $182,452,148 $230,952 $204,989
712 Maplewood/North St, Paul 661 13 154 295 199 5154,314,845 5233,457 $206,000
713 Bethel 251 6 49 110 66 $60,726,965 5241,940 $229,900
714 SP-Phalen 441 11 102 235 92 $74,788,255 5169,588 $168,000
716 SP-Hillcrest/Hazel PrklDytons Blff 800 17 190 462 131 5133,494,154 5166,868 $168,000
720 SP-Southeast SI. Paul 153 1 24 81 47 $34,146,630 $223,181 $200,747
721 Lakeland/ Afton/Denmark 113 0 16 49 48 $46,226,195 $409,081 $335,000
722 Nwprt/St. Paul Prk/Cottage Grove 799 6 122 363 308 $179,085,202 $224,418 $212,000
725 Pine Springs/Lake Elmo/Oakdale 588 6 177 227 178 5145,946,288 $248,208 $217,698
726 VlJoodbury 1.347 8 457 351 529 $399,307.604 5296.442 $269.900
727 Stillwater/Bayport 588 6 107 244 231 $200,880,911 $341,634 $279,900
728 Riverview/Cherokee 176 3 61 85 27 $30,323,026 $172.290 $167,400
738 Home Croft/W 7Th 145 7 31 74 32 $25,377,905 $175,020 $174,500
740 Crocus Hill 315 71 109 57 75 $97,205,726 $308,590 $230,000
(Continued on page 6)
Minneapolis Area Associ,ltion of REAlTORS" 2005 Residential Activity Report . February 2006 . 3
DISTRICT AND NAME LNFHA LNDVA CONVE ASSUM ADJGP CONFD CDASS SPEFU CASH OTHER
-. .
Minneapolis
300 Mpls-Calhoun-Isles 34 2 443 0 0 1 0 1 43 136
301 Mpls-Camden 48 4 524 1 3 3 0 2 18 46
302 Mpls-Central 65 0 893 1 1 0 1 0 49 313
303 Mpls-Longfellow 31 1 361 0 1 0 0 1 13 15
304 Mpls-Nokomis 71 4 866 4 2 3 0 1 43 73
305 Mpls-North 29 0 333 0 5 2 0 3 22 31
306 Mpls-Northeast 33 0 427 0 0 1 1 0 19 20
307 Mpls-Phillips 6 0 85 0 0 1 0 1 6 13
308 Mpls-Powderhorn 26 2 319 0 0 0 0 0 11 37
309 Mpls-Southwest 45 5 767 0 2 1 0 3 42 128
310 Mpls-University 3 0 132 0 0 0 0 0 17 7
Suburban and other areas
340 Buffalo 28 4 355 0 0 2 0 0 28 24
341 Wright County (Except Buffalo) 138 14 1.755 3 13 9 0 4 114 99
342 Hutchinson 13 8 271 0 0 2 0 24 29 5
343 Mcleod Cou nty 22 6 224 0 1 1 1 2 20 11
360 Robbinsdale 16 1 216 0 0 0 0 1 19 19
361 Crystal 25 0 343 0 1 2 0 1 11 30 I
362 New Hope 18 1 270 0 1 1 0 1 14 20 I
363 Brooklyn Center 30 3 415 1 5 1 0 1 7 19
364 Brooklyn Park 65 6 1,286 0 7 2 0 1 30 65 I
365 Maple Grove/Osseo 54 7 1,168 1 5 2 1 2 49 116
366 Champlin 22 4 401 0 0 1 0 0 11 24
367 Hennepin-North 5 2 201 0 1 1 0 0 9 12
368 Hennepin-Northwest 5 1 209 0 1 0 0 0 11 26
370 Sibley County 5 2 86 0 0 1 0 1 7 6 ,
373 Golden Valley 12 1 330 1 1 1 1 0 14 37 I
374 Plymouth 45 7 1,006 1 4 0 0 1 52 136 i
378 Richfield 71 1 510 0 1 0 0 0 17 64 I
379 Bloomington-East 26 3 348 0 2 0 0 0 14 26 I
380 Bloomington-West 34 3 656 0 3 1 1 0 47 52 ,
381 Lake Minnetonka 40 1 666 1 1 10 2 1 79 117 I
385 Edina 30 0 537 0 0 2 0 0 79 143
386 Hopkins 13 0 201 3 2 0 1 1 15 28
387 Minnetonka 27 1 603 1 2 2 1 0 49 122
391 Saint Louis Park 42 3 707 1 3 2 0 2 30 120
392 Eden Prairie 47 3 1,016 2 5 2 0 0 50 177
394 Carver County 31 5 549 1 0 2 0 1 16 26
396 Chanhassen 20 1 380 0 1 0 0 0 14 51 I
397 Chaska 26 5 398 0 2 3 0 0 15 30 I
398 Victoria 6 0 114 0 0 0 0 0 6 14
Division H
600 West St. Paul 12 2 239 1 2 0 0 0 22 10
602 South St. Paul 22 2 261 0 1 2 0 1 8 8 I
604 Mendota/Lilydale/Mendota Heights 2 0 123 1 0 1 0 0 11 4 I
605 Sunfish Lake 0 0 5 0 0 0 0 0 0 0
608 Inver Grove Heights 22 1 389 0 0 0 1 2 18 20
610 Eagan 54 10 1,083 1 3 3 0 1 32 102
612 Burnsville 60 5 867 3 1 0 1 2 28 39 I
614 Apple Valley 54 11 934 0 1 3 0 3 27 31
616 Rosemount 32 6 404 0 0 1 0 0 15 28
617 Hastings 41 6 335 0 1 1 0 1 15 9 I
618 Eastern Dakota County 0 0 21 0 0 0 0 0 6 1 I
624 Farmington 40 6 569 0 2 2 0 0 13 18
626 Lakeville 43 15 894 0 3 2 0 0 29 70
628 Southern Dakota County 2 1 41 0 0 0 0 0 1 0
630 Northfield 12 4 304 0 1 0 0 1 27 4
632 Rice County 27 7 359 0 0 2 1 3 17 33
640 Shakopee 52 4 731 0 1 0 0 1 18 65
642 Prior Lake 25 3 516 0 2 2 0 1 29 35
644 Savage 18 5 499 0 0 1 0 0 15 13
646 Jordan 4 0 97 0 1 0 0 0 3 7
648 New Prague 22 3 318 0 0 1 0 1 18 14
650 Belle Plaine 13 6 167 0 0 1 0 1 9 4
658 Lesueur County 21 2 196 0 0 2 0 2 46 7
660 Goodhue County 29 8 403 0 1 2 1 3 47 17
Division
702 Falcon Heights/Lauderdale/Roseville 17 0 432 1 0 1 1 0 29 17
705 Lino Lakes/Hugo/Centerville 25 2 588 0 5 0 0 0 17 49
706 North Central Surburban 12 1 291 0 2 0 0 0 17 31
707 Ham Lake 7 1 176 0 0 0 0 0 11 2
708 White Bear Area 13 4 544 0 1 3 0 0 44 87
709 Forest Lake Area 19 1 409 1 2 2 0 1 27 23
710 Northeast Anoka County 1 0 89 0 2 1 0 0 8 4
711 Southern Chisago County 32 7 615 1 4 3 0 2 42 31
712 MaplewoodlNorth St. Paul 27 3 611 0 3 1 0 2 25 45
713 Bethel 4 1 172 0 1 1 0 0 6 4
714 SP.Phalen 25 3 393 0 2 0 0 2 9 21
716 SP-Hillcrest/Hazel Park/Day tons Bluff 55 4 623 0 0 3 0 3 21 26
720 SP-Southeast St. Paul 8 0 130 0 2 1 0 0 2 5
721 Lakeland/ Afto nlDenmark 0 0 76 0 1 0 1 0 9 3
722 Newport/St. Paul Park/Cottage Grove 44 9 655 1 7 2 0 0 20 23
725 Pine Springs/Lake Elmo/Oakdale 25 3 493 1 4 1 0 0 14 29
.,26 Woodbury 50 9 1 0 3 1 0 2 55 79
727 Stillwater/Bayport 6 1 0 0 1 0 0 28 44
728 SP-Riverview/Cherokee 12 1 146 0 0 1 0 1 5 2
738 SP-Home CroftlW 7Th 5 1 93 0 1 0 0 0 7 6
740 SP.Crocus Hill 10 1 277 0 0 0 0 1 23 15
741 SP-Downtown Stp/Capital Heights 3 0 216 0 0 1 0 1 22 14
I paqe 7)
4 . 2005 Residential Activity Report. February 2006
TYPE OF
NAME LNFHA ADJGP CONFD CDASS SPEFU CASH
Minneapolis
300 Mpls-Calhoun-Isles 45 0 374 1 2 0 0 0 32 214
301 Mpls-Camden 151 4 587 0 3 1 0 1 20 26
302 Mpls-Central 137 1 285 0 1 0 0 0 36 75
303 Mpls-Longfellow 64 1 322 0 2 0 0 0 20 15
304 Mpls-Nokomis 198 7 788 1 2 1 0 0 30 41
305 Mpls-North 77 4 329 0 5 1 0 1 30 18
306 Mpls-Northeast 76 0 394 0 3 4 0 0 21 27
307 Mpls-Phillips 17 0 79 0 0 0 0 0 4 8
308 Mpls-Powderhorn 60 2 306 0 0 0 0 1 13 22
309 Mpls-Southwest 127 1 801 0 5 2 0 0 36 67
310 Mpls-University 15 0 150 0 2 0 0 0 13 6
Suburban and other areas
340 Buffalo 58 5 324 1 2 1 0 3 37 19
341 Wright County (Except Buffalo) 354 34 1,509 0 6 2 0 4 112 71
342 Hutchinson 37 4 208 0 0 0 0 7 33 9
343 Mcleod County 33 2 221 0 0 1 3 0 16 10
360 Robbinsdale 63 1 200 1 0 0 0 1 11 18
361 Crystal 71 5 320 0 0 0 0 0 10 21
362 New Hope 37 8 213 0 0 0 0 0 7 18
363 Brooklyn Center 112 4 421 0 2 1 0 2 7 9
364 Brooklyn Park 249 10 1,194 1 3 2 1 3 32 35
365 Maple Grove/Osseo 234 7 1,121 1 4 3 0 2 37 73
366 Champlin 83 6 375 0 0 0 0 1 10 8
367 Hennepin-North 26 2 210 0 1 0 0 1 4 4
368 Hen nepin-Northwest 28 0 189 0 0 1 0 0 20 34
370 Sibley County 10 3 67 0 0 0 0 0 10 5
373 Golden Valley 36 2 283 1 0 0 0 0 19 28
374 Plymouth 171 6 891 1 1 1 0 0 47 112
378 Richfield 104 2 395 0 1 0 1 0 27 17
379 Bloomington-East 56 5 305 1 1 0 0 0 16 11
380 Bloomington-West 136 3 630 0 0 0 0 0 51 29
381 Lake Minnetonka 89 3 720 0 5 8 1 0 82 109
38S Edina 223 2 568 0 0 3 0 0 81 29
386 Hopkins 46 2 195 6 0 0 0 1 19 27
387 Minnetonka 100 3 598 1 1 1 1 0 70 71
391 Saint Louis Park 137 0 733 0 1 0 0 0 45 57
392 Eden Prairie 194 3 1,025 0 3 1 0 0 60 57
394 Carver County 64 4 527 0 3 1 1 1 28 22
396 Chanhassen 77 2 348 0 0 0 0 1 21 27
397 Chaska 73 2 386 0 4 3 0 0 29 10
398 Victoria 8 3 82 0 0 1 0 0 10 6
Division l!
600 West St.Paul 65 2 207 0 0 0 0 0 15 8
602 South St. Paul 57 3 265 0 3 0 1 0 14 10
604 Mendota/LHydale/Mendota Hhts 11 0 108 0 1 0 0 0 8 6
605 Sunfish Lake 0 0 9 0 0 0 0 0 0 1
608 Inver Grove Heights 60 3 366 1 1 1 1 0 12 13
610 Eagan 183 9 1,104 0 2 2 0 2 24 27
612 Burnsville 213 10 816 1 0 5 2 0 26 28
614 Apple Valley 194 <0 949 1 2 1 0 0 37 21
"
616 Rosemount 82 4 355 0 2 0 0 1 14 4
617 Hastings 77 10 307 0 3 1 0 0 29 4
618 Eastern Dakota County 3 0 12 0 0 0 0 0 0 0
624 Farmington 120 9 483 0 1 0 0 0 16 11
626 Lakeville 167 12 856 1 2 0 0 2 25 13
628 Southern Dakota County 4 0 32 0 0 0 0 0 2 0
630 Northfield 28 4 294 0 0 3 0 0 25 2
632 Rice County 65 5 301 0 0 1 1 1 20 23
640 Shakopee 180 5 611 0 1 0 0 0 12 19
642 Prior Lake 170 2 393 0 0 1 0 0 29 12
644 Savage 113 6 419 0 0 0 0 1 20 15
646 Jordan 14 0 83 0 0 0 0 0 2 2
648 New Prague 46 3 301 0 0 1 0 0 13 15
650 Belle Plaine 30 0 144 0 0 0 0 0 4 7
658 Lesueur County 42 4 199 0 3 0 0 0 29 3
660 Goodhue County 67 11 336 0 0 1 1 3 49 11
Division
702 Falcon Hghts/Lderdle/Rsville 42 4 422 0 1 1 0 0 43 13
705 Lino Lakes/Hugo/Centerville 55 3 469 1 1 1 0 0 14 29
706 North Central Surburban 36 2 292 0 0 0 1 0 32 13
707 Ham Lake 19 2 200 0 0 0 0 0 8 4
708 White Bear Area 58 4 637 1 0 1 0 1 57 37
709 Forest Lake Area 83 3 445 1 0 1 0 0 29 15
710 Northeast Anoka County 7 3 69 0 1 0 0 0 4 1
711 Southern Chisago County 123 14 574 0 0 3 0 1 51 24
712 Maplewood/North St. Paul 75 7 531 0 0 0 0 1 29 17
713 Bethel 34 1 202 2 0 0 0 0 6 6
714 SP-Phalen 69 6 339 0 3 1 0 1 14 8
716 Hillcrest/Hazel Park/Dytns Blft 126 8 616 0 4 1 0 1 21 23
720 Southeast St, Paul 19 2 124 0 0 0 0 1 3 4
721 La ke la nd/ Afton/Den mark 6 1 80 2 0 0 0 0 15 9
722 Nwprt/St. Paul Park/Cttge Grve 101 16 645 0 3 0 0 2 19 11
725 Pine Sprngs/Lk Elmo/Oakdle 62 3 485 0 0 0 0 0 18 20
726 Woodbury 117 13 1,119 1 6 0 1 0 52 37
727 Stillwater/Bayport 47 2 475 0 1 I 0 0 38 24
728 Riverview/Cherokee 32 1 130 0 0 0 0 0 5 8
738 Home CroftlW 7Th 20 1 112 1 0 0 0 0 9 2
740 Crocus Hill 20 0 260 0 1 0 0 0 14 20
741 Downtown Stp/Capital Heights 67 0 234 0 4 1 0 1 20 35
742 Central 60 3 296 0 0 1 0 1 25 5
(Continued on a e 7)
M illllcapol is Arca Association of REAL n lib 2005 Residential Activity Report. February 2006 . 5
DISTRICT TOTAL DOLLAR AVERAGE MEDI
NUMBER & NAME SALES 4+ VOLUME PRICE PRIC
741 SP-Downtown Stp/Capital Heights 257 119 88 15 1 $54,520,287 $212,141 $180,613
742 SP-Central 356 22 94 170 70 $55,568,962 $157,419 $160,000
744 SP-Como 299 8 87 161 43 $67,631,280 $226,192 $218,000
746 SP-St. Anthony/Midway 293 15 97 128 53 $64,151,597 $219,697 $195,154
748 SP-Town & Country/Merriam Park 140 3 24 57 56 $47,719,591 $340,854 $293,750
750 SP-Mac/Groveland/River Road Area 315 10 79 165 61 $98,816,612 $313,704 $280,000
752 SP-Highland Area 354 16 77 192 69 $111,545,428 $315,100 $275,000
754 Big Lake Township 444 2 118 189 134 $98,391,031 $221,601 $202,900
756 Elk River 530 3 100 228 199 $134,322,340 $253,438 $234,900
758 Northwestern Anoka County 328 4 70 155 99 $87,140,656 $265,673 $235,950
760 Ramsey 498 0 116 205 177 $121,575,009 $244,127 $226,000
762 Andover 573 1 47 230 295 $167,676,326 $293,140 $275,000
764 Blaine 1,095 6 292 454 343 $283,529,185 $259,167 $225,000
765 Arden Hills/Shoreview 573 24 185 215 149 $151,426,164 $264,269 $238,900
766 Mdsvw/New Brightn/St.Anthny Vilg 493 14 102 229 148 $122,193,765 $248,361 $229,950
767 Coon Rapids 1,321 5 408 521 387 $289,718,163 5219,483 $206,000
768 Fridley 366 8 77 176 101 $77,998,880 5213,696 5209,900
769 Anoka 240 2 51 116 71 550,421,482 $210,090 5203,111
770 Hilltop/Columbia Heights 342 14 78 179 71 566,324,449 5193,931 5189,900
771 Spring Lake Park 82 1 13 42 26 516,937,475 5206,555 5208,000
772 Lexington/Circle Pines 123 0 39 63 21 526,067,670 5211,932 5193,000
780 Sherburne County 922 24 224 407 266 5210,395,282 $228,194 5210,000
782 Isanti County 614 9 238 254 112 $125,161,153 5203,846 5188,900
783 Cambridge 143 1 65 44 33 528,009,760 5195,872 5180,000
784 Northern Chisago County 116 2 46 47 21 $25,112,001 $216,483 5207,125
801 Southeast Wisconsin 1 0 0 1 0 $206,000 $206,000 $206,000
802 Southern Wisconsin 23 1 6 12 4 $2,852,547 $124,024 5109,900
803 Eastern Wisconsin 5 0 1 3 1 $619,900 $123,980 $96,900
804 Central Wisconsin 18 2 4 8 4 $2,297,800 $127,656 $96,950
805 Western Wisconsin 3,76 i 77 A r.,'"} 1,745 852 $734,004,429 $195,318 $173,000
I ,VI L
811 Northeast Minnesota 1,022 63 315 465 169 $176,239,775 $172,615 $147,500
812 Northern Minnesota 386 16 107 177 83 $67,984,487 $176,126 5151,000
813 Northwest Minnesota 73 2 27 24 19 $9,813,148 $134,427 5106,000
814 West Central Minnesota 871 29 223 385 233 $141,630,659 5162,607 5135,000
815 Southern Minnesota 867 5 166 411 285 $139,424,381 $161,184 $146,900
816 Southeast Minnesota 1,769 25 414 704 624 5321,520,376 5181,753 5159,000
817 Central Minnesota 2,934 89 918 1,201 716 5554,751,300 5189,206 5163,000
840 North Dakota 66 0 13 30 23 58,299,804 $125,755 5123,499
850 South Dakota 2 0 0 1 1 $122,500 $61,250 561,250
861 Eastern Iowa 1 0 0 0 1 $199,900 5199,900 $199,900
DISTRICT TOTAL DOLLAR ' ..
..
NUMBER & NAME SALES 1 2 3 4+ VOLUME PRICE PRICE
741 Downtown Stp/Capital Heights 363 104 128 6 3 $61,104,075 $168,796 $151,537
742 Central 391 16 126 190 58 $57,427,782 $146,874 $150,000
744 Como 331 8 107 175 41 $70,498,315 $212,986 $200,000
746 St. Anthony/Midway 243 10 58 119 56 550,525,456 $207,924 $193,640
748 Town & Country/Merriam Park 155 13 28 65 49 $48,359,821 $311,999 $245,000
750 Mac/Groveland/River Road Area 311 16 87 145 62 593,124,143 $299,435 $264,000
752 Highland Area 308 12 72 171 53 $92,535,398 $300,440 $269,900
754 Big Lake Township 469 3 1:l4 199 133 $127,937,093 5273,370 $189,900
756 Elk River 620 0 125 293 202 $148,391,764 $239,728 $225,000
758 Northwestern Anoka County 361 4 79 167 110 $92,774,874 $257,708 $239,900
760 Ramsey 561 0 125 229 204 $137,730,671 $246,388 $226,000
762 Andover 530 5 42 217 266 $143,398,054 $270,562 $254,329
764 Blaine 1,095 2 290 424 377 $264,944,854 $242,180 $213,000
765 Arden Hills/Shoreview 551 16 175 213 147 $134,973,440 $245,406 $220,250
766 Mndsvw/New Brghtn/St.Anthny Vilg 481 19 98 242 122 $110,359,499 $229,438 $219,500
767 Coon Rapids 1,402 5 442 549 405 $296,494,874 $211,480 $195,000
768 Fridley 404 10 66 227 97 $82,186,908 $203,433 $195,549
769 Anoka 287 0 58 133 96 $60,062,439 $209,277 $195,500
770 Hilltop/Columbia Heights 329 13 75 172 68 $60,534,721 $183,996 $180,000
771 Spring Lake Park 104 1 25 46 32 $20,728,952 $199,317 $190,990
772 Lexington/Circle Pines 120 0 34 53 33 $23,765,753 5198,048 $189,450
780 Sherburne County 1,095 24 353 440 276 $236,547,463 $216,025 $182,400
782 Isanti County 513 8 170 227 107 599,339,970 $193,645 $176,500
783 Cambridge 265 5 123 89 47 $48,749,002 $183,958 $172,500
784 Northern Chisago County 139 6 53 56 24 $26,655,857 $191,769 $175,000
802 Southern Wisconsin 1 0 0 0 1 $174,997 $174,997 $174,997
803 Eastern Wisconsin 1 0 0 1 0 $145,000 $145,000 $145,000
804 Central Wisconsin '10 6 2 1 $1,509,402 $150,940 $163,751
805 Western Wisconsin 3,405 62 947 1,608 775 $687,867,809 $202,493 $170,000
811 Northeast Minnesota 669 38 232 285 106 $109,631,966 $163,874 $139,900
812 Northern Minnesota 565 29 175 242 117 $112,665,717 $199,762 5146,113
813 Northwest Minnesota 70 7 16 O~ 17 $10,417,800 $148826 $126.150
814 West Central Minnesota 754 17 195 336 204 5102,156,781 $135,486 $116,25U
815 Southern Minnesota 521 3 111 231 176 $81,095,047 $155,952 $140,050
816 Southeast Minnesota 1,395 22 329 547 491 $247,809,74 i $177,641 $151,270
817 Central Minnesota 2,436 72 783 962 603 $420,738,318 $172,788 $153,000
840 North Dakota 62 0 14 27 20 $6,605,748 $106,544 $99,950
850 South Dakota 2 0 0 1 1 $77,500 $38,750 $38,750
6 . 2005 Residential ActiVity Report. February 2006
DISTRICT AND NAME LNFHA LNDVA CONVE ASSUM ADJGP CONFD CDASS SPEFU CASH OTHER
742 SP.Central 20 3 298 0 3 1 0 1 14 15
744 SP.Como 19 5 249 0 2 1 0 0 14 9
746 SP-St. Anthony/Midway 16 3 239 0 0 1 0 1 17 15
748 SP- Town & Country/Merriam Park 6 0 122 0 0 0 0 0 6 6
750 SP-Mac/Groveland/River Road Area 4 0 268 0 1 1 0 2 22 17
752 SP-Highland Area 9 1 307 0 0 0 0 0 17 20
754 Big Lake Township 31 6 374 0 1 2 0 0 14 15
756 Elk River 28 6 438 1 1 1 0 5 27 23
758 Northwestern Anoka County 16 1 291 0 2 0 0 0 10 8
760 Ramsey 29 3 437 0 0 0 0 0 9 20
762 Andover 10 3 513 0 1 3 0 0 17 26
764 Blaine 65 4 949 0 6 1 1 1 29 37
765 Arden Hills/Shoreview 9 4 502 0 0 0 1 I 34 22
766 Moundsvw/New Brightn/St.Anthny Vllg 25 2 417 1 0 0 0 0 27 20
767 Coon Rapids 98 10 1,104 0 3 3 0 3 50 49
768 Fridley 23 4 317 0 2 0 0 2 8 9
769 Anoka 17 4 200 0 1 1 0 1 7 9
770 Hilltop/Columbia Heights 25 2 297 1 0 1 0 1 10 5
771 Spring Lake Park 3 2 71 0 1 0 0 0 2 3
772 Lexington/Circle Pines 6 1 106 0 1 0 0 0 4 5
780 Sherburne County 50 5 794 1 2 1 0 2 42 24
782 Isanti County 31 7 508 1 3 2 0 7 37 18
783 Cambridge 14 1 110 0 0 0 0 0 13 5
784 Northern Chisago County 3 0 97 0 1 0 2 8 4
801 Southeast Wisconsin 0 0 1 0 0 0 0 0 0 0
802 Southern Wisconsin 2 0 20 0 0 0 1 0 0 0
803 Eastern Wisconsin 2 0 3 0 0 0 0 0 0 0
804 Central Wisconsin 0 0 16 0 0 0 0 0 2 0
805 Western Wisconsin 97 18 2,829 1 11 11 1 6 610 171
811 Northeast Minnesota 34 21 809 0 1 7 0 128 19
812 Northern Minnesota 10 3 267 1 0 4 0 84 16
813 Northwest Minnesota 7 0 43 0 0 2 0 0 20 1
814 West Central Minnesota 54 4 616 0 1 9 1 5 151 30
815 Southern Minnesota 82 12 675 2 1 3 1 4 67 20
816 Southeast Minnesota 111 14 1,415 0 0 8 2 1 154 64
817 Central Minnesota 136 29 2,293 4 0 20 7 1 362 82
840 North Dakota 0 1 43 0 0 0 0 0 5 0
850 South Dakota 17 1 0 0 0 0 0 0 1 0
861 Eastern Iowa 0 0 1 0 0 0 0 0 0 0
l..JMBER- 2004
DISTRICT AND NAME LNFHA LNDVA CONVE ASSUM ADJGP CONFD CDASS SPEFU CASH OTHER
"._~~~--".- -~_._--
744 Como 48 2 262 0 1 0 0 0 9 9
746 St. AnthonY/Midway 21 4 194 0 1 0 0 1 20 2
748 Town & Country/Merriam Park 9 0 128 0 1 0 0 0 9 8
750 Mac/Groveland/River Rd 21 0 255 0 0 0 0 0 26 9
752 Highland Area 15 1 245 0 1 1 0 1 31 13
754 Big Lake Township 83 6 356 0 2 0 1 0 13 7
756 Elk River 116 6 466 1 0 4 0 0 14 12
758 Northwestern Anoka County 52 5 283 0 0 0 0 1 11 8
760 Ramsey 112 3 422 0 0 0 0 0 15 7
762 Andover 75 3 418 0 1 1 0 0 13 19
764 Blaine 174 10 849 1 1 1 2 0 21 35
765 Arden Hills/Shoreview 39 3 452 2 0 3 0 0 36 15
766 Mdsvw/Nw Brghtn/St.Anthy Vlg 45 2 396 0 0 0 0 1 23 13
767 Coon Rapids 233 13 1,062 1 2 4 1 2 44 40
768 Fridley 59 2 319 1 1 0 0 0 10 12
769 Anoka 43 2 219 0 1 0 0 1 10 11
770 Hilltop/Columbia Heights 51 3 254 1 1 0 0 2 8 9
771 Spring Lake Park 20 1 79 0 0 0 0 0 2 2
772 Lexington/Circle Pines 18 0 97 0 0 0 0 1 0 4
780 Sherburne County 184 14 816 0 3 3 0 5 55 15
782 Isanti County 84 7 379 0 1 5 0 0 29 8
783 Cambridge 47 6 186 0 0 1 0 1 16 8
784 Northern Chisago County 14 0 106 0 0 0 0 1 12 6
802 Southern Wisconsin 0 0 1 0 0 0 0 0 0 0
803 Eastern Wisconsin 0 0 1 0 0 0 0 0 0 0
804 Central Wisconsin 0 0 8 0 0 0 0 0 1 1
805 Western Wisconsin 351 23 5 7 6 4 8 564 150
811 Northeast Minnesota 95 14 0 0 8 4 0 83 14
812 Northern Minnesota 68 6 368 0 0 2 1 I 112 6
813 Northwest Minnesota 11 1 41 0 0 0 1 0 16 0
814 West Central Minnesota 53 11 541 0 0 11 1 0 102 35
815 Southern Minnesota 53 8 398 0 1 2 0 0 51 7
816 Southeast Minnesota 142 7 1 0" 2 0 8 2 110 79
.,v-'+-'+
817 Central Minnesota 270 28 i ,748 0 3 22 3 3 298 59
840 North Dakota 15 2 32 0 0 0 0 0 13 0
850 South Dakota 0 0 0 0 0 0 0 0 2 0
" Minneapolis Arca Association ofRLAU< )1('"
2005 Residential Activity Report. February 2006 . 7
1980 37,018 1,340,772,915 18,351 74,069
1981 35,580 1,249,787,584 15,675 80,238
1982 41,465 998,693,468 12,193 82,288 1980 - 1996 - All property types
1983 50,794 1,344,916,756 15,914 84,953
1984 53,646 1,544,535,531 18,231 85,007 All MLS districts
1985 51,492 1,866,291,153 21,335 87.789
1986 58,382 2,523,647,113 28,015 90,319
1987 55,422 2,460,309,115 25,772 95,914 1997-present - Single family detached,
1988 80,771 3,211,389,403 34,244 93,977
1989 89,170 3,277,302,913 33,962 96,658 condos, townhouses and twin homes.
1990 78,548 3,372,262,409 34,496 98,016
1991 71,850 3,522,813,135 35,598 99,402 13 county metro area only
1992 72,730 4,309,040,911 41,944 103,264
1993 70,685 4,300,305,967 39,842 107,569
1994 63,369 4,733,426,199 42,454 111,806
1995 64,556 4,941,765,241 42,310 117,053
~996 73,433 5.818,69M53_ '.. 46 94g_ __ 124,D2.L * 2002 - Home sales were recalculated
1997 63,189 5,680,945,013 41,441 137,085
1998 64,280 7,048,446,631 47,836 147,346 by RMLS on March 6, 2003 due to the
1999 57,573 7,620,974,435 46,675 163.277
2000 59,618 8,754,809,444 48.208 181.605 fact the previous report included some
2001 71.861 10,217,347,550 50,298 203,136
2002 73,940 11,331,943,390 51,212 221,275 sales reported early in 2003.
. 2003 86,378 13,478,897,819 56,528 238,446
2004 97.737 14,922,306,738 58,233 256.252
2005 99,211 15,610,890,354 57,283 272,522
SALES PRICE
Faml!y.r;:single fa
1998 1999 2000 2001 . 2002 2003 2004 2005 % Change % Change
from 2004 from 2000
Division m
Minneaoolis
300 Calhoun-Isles 5233,049 $290,226 5296,188 $351,333 5373,453 5408,461 5370,656 5372,068 04% 256%
301 Camden 70.029 79,724 93,216 113,612 130,626 145,436 159,716 170,491 67 82.9
302 Central 134,011 156,853 200,293 217,375 270,763 275,497 314,868 290,640 -7.7 45.1
303 Longfellow 95,665 112,882 130,985 155,226 175,457 188,073 214,911 230,133 71 757
304 Nokomis 106,728 122,473 142,080 170,066 191,543 207,649 223,953 234,483 47 65.0
305 North 58.471 64,408 78,102 99,441 122,211 142,153 167,074 166,173 -05 112.8
306 Northeast 92.328 110,983 128,335 148,796 168,561 187,518 200,452 209,454 4.5 63.2
307 Phillips 50,289 59,086 87,570 117,363 126,093 147.269 168,620 181,357 7.6 107 1
308 Powderhorn 73,010 88,048 105.359 134,277 158,396 163,621 180,765 192,626 66 828
309 Southwest 163.434 198,231 219,038 246,128 271,606 301.059 314,957 334,398 6.2 52.7
310 University 118,239 121.016 146,263 181,312 193,409 216,047 237,979 252,909 63 72.9
Suburban and other areas
340 Buffalo 133,514 140,802 169.647 176,167 187,293 207.208 222,891 235.955 59 391
341 Wright County 123,720 142,231 162,416 179,048 192,047 204,680 219,996 241,140 96 485
342 Hutchinson 110.720 117,513 119,572 129,042 137,415 147,905 155.138 173.593 119 45.2
343 McLeod 96.016 109,609 109,231 126,988 128,969 131,286 161,672 163,395 11 496
360 Robbinsdale 101,072 114,578 131,249 152,150 164,166 178.450 190,824 193,651 1.5 47.5
361 Crystal 103,096 113,106 129.017 153,720 163,946 178.'15:3 189,784 20'1,502 6.2 56.2
362 New Hope 118.487 130,235 146,715 161,770 180,464 197,142 209,819 219,473 4.6 49.6
363 Brooklyn Center 94.362 110,822 124,435 142,706 157,359 169,248 183,319 194,124 5.9 56.0
364 Brooklyn Park 118,692 134,822 151,298 169,395 182,623 208,506 228,103 248,074 8.8 64.0
365 Maple Grove lOss 162,065 182,643 200,674 214,828 236,419 254,679 263,719 290,334 10.1 44.7
366 Champlin 136,315 148,557 173.531 191,458 206,181 226.442 239,231 253,513 60 46.1
367 Hennepin Co No 184,638 174,515 206,833 217,317 229,857 251,558 275,829 295,692 7.2 43.0
368 Hennepin Co NW 236,187 263,877 310,009 344,611 396,888 444,263 486,537 520,261 6.9 67.8
370 Sibley County 83.240 93,540 99,849 112,158 135,357 121,962 137,108 160,087 16.8 60.3
373 Golden Valley 150,858 177,548 196.321 219,0'14 245,111 268,775 287,259 312,516 8.8 59.2
374 Plymouth 192,689 215,180 226,656 252,473 265,829 287.489 310,289 323,608 43 42.8
378 Richfield 111,959 127.766 141,573 160,101 182,728 195,271 211,395 221,212 4.6 56.3
379 Blmington - E 113,733 127,656 144,184 165,828 1TT.543 195,983 197,441 218,165 10.5 513
380 Simington - W 160,297 174,290 198,693 213,478 231,762 246.102 259.541 281,523 8.5 41.7
381 Lake Mtka N 297,661 351.529 391,826 422 ,298 461,448 483.802 585,078 629,488 76 607
385 Edina 247,019 278 355 298.541 328,204 352,363 396.287 402,321 450,131 11.9 50.8
386 Hopkins 105,506 126,980 130,129 159,910 174,773 191.917 183,448 211,202 15.1 n) 3
387 Minnetonka 193,887 219,510 247.102 265,938 298,954 315,353 338,985 353,159 4.2 42.9
391 St Louis Park 120,049 141,235 156,214 179,190 194,756 215,910 230,017 248,018 7.8 588
392 Eden Prairie 206.091 228,812 '"lCi:. .1'1-j 305,008 309,090 325.661 348,903 371,874 74 414
/~~!J, f ,) ,
394 Carver County 143,562 156,776 172.128 2ll5.~73 212,136 224.526 25123'1 258,895 31 499
396 Chanhassen 207,250 224,760 256,782 285,722 300,812 317,921 353,801 353,302 -01 376
397 Chaska 165,175 188,103 208,377 237,662 243,324 254,163 273.326 281,629 30 35.2
398 Victoria 239,756 253,538 294,411 285,423 317,607 367.246 369.473 474,128 283 610
8 . 2005 Residential Activity Report . February 2006
PRICE BY DISTRICT
1998 1999 2000 2001 . 2002 2003 2004 2005 % Change % Change
from 2004 from 2000
!I
600 West SI. Paul $116,219 $123,796 $-134,958 S163,483 $178.524 S'194,257 S199,323 S211,498 6.10/0 58,7%
602 South SI. Paul 97.712 108,136 126,011 144,573 161,871 178,497 178,282 200,609 12,5 59,2
604 Mndta-Lilydale-Mendota Hts 207,116 220,215 254.392 291,807 295.433 330.320 366,850 398,571 8,6 56.7
605 Sunfish Lake 546,333 625,000 559,801 525,980 1,062,857 688,167 933,312 757,500 -18.8 35,3
608 Inver Grove Heights 156,545 179,447 196,205 205,041 227,487 235,180 252.528 275,729 9.2 40.5
610 Eagan 50,423 162,157 184,979 206.104 214,270 229,843 244,712 254,526 4,0 37.6
612 Burnsville 140,061 151,500 164,508 181.752 200,197 217,112 229,557 245,142 6,8 49.0
614 Apple Valley 151,669 163,609 175,929 195,302 205,731 219,874 229.441 249,193 86 416
616 Rosemount 141.773 155,505 171,871 212,366 228,492 245.721 249,532 266,023 6.6 548
617 Hastings 126,827 133.072 153,298 177 393 202,616 221,145 229.517 225,358 -18 47,0
618 Eastern Dakota County 172,414 198,610 212,606 228,613 233,409 228,987 269.507 329,748 22.4 551
624 Farmington 135,048 156,095 169,777 187,196 207,175 220,031 238,664 239,999 0.6 41.4
626 Lakeville 185,954 206,357 220.515 246.753 263,070 281,013 300,381 313,680 4.4 42.2
628 Southern Dakota County 169,073 185,124 193,795 221 ,330 200,399 263,097 265,998 299,540 12.6 54.6
630 Northfield 144,528 158,633 169,815 194,508 204,426 207,130 242,104 254,550 5.1 49.9
632 Rice County 125,327 127,500 136,491 153,727 164,358 172,959 191,320 212,835 112 55,9
640 Shakopee 133,126 141,596 172,012 191,207 205,033 215,760 242,545 260,817 7.5 51,6
642 Prior Lake 184,364 203.497 242,838 262,396 285,362 309,519 326.702 376,577 15.3 55,1
644 Savage 158.509 179,825 205,987 235,027 250,091 261,389 280.792 288,448 2,7 40.0
646 Jordan 142,758 155,478 196,780 195,913 202,940 238,691 259.793 287,166 105 45.9
648 New Prague 145,972 169,075 184.322 210,506 214,118 230,162 250,423 289,409 156 57.0
650 Belle Plaine 118.892 128.363 152,350 176,108 179,581 193.083 224,152 222,630 -07 461
658 LeSueur County 101,362 107,263 129,156 127.046 130,601 160,175 159,705 184,791 157 43,1
660 Goodhue County 121,775 126,014 144,355 160,310 164,845 172,142 185,307 197,693 6,7 36,9
DiVision !
702 Falcon Hts-Lderdale-Rsevlle 145,481 156,343 170,533 185,823 206,743 223,683 236.748 251,424 6.2 47.4
705 Lino Lakes-Hugo-Centerville 158,4:15 174,824 191.278 218,316 239,798 25'1,102 277,830 301,904 8.7 57.8
706 North Central Suburban 181,218 194,043 228,916 259,503 267,445 281,496 293,901 322,878 9.9 41,0
707 Ham Lake 159,879 183,285 216,438 242,855 264,738 309,802 352,868 363,343 3.0 67,9
708 White Bear Area 163,717 173,973 201,038 222,445 248,609 272,624 292,243 303,513 3,9 51,0
709 Forest Lake Area 152,327 166,198 187,490 206,693 238,458 243,298 266,384 283,599 6,5 51.3
710 Northeast Anoka County 144.241 149,519 182.513 187,068 227.129 237,552 280,592 286,579 2.1 570
711 Southern Chisago County 130.851 141,921 157.520 177.804 197,257 215,250 230,952 241,783 47 535
712 Maplewood-North St Paul 123,751 140,002 160.572 173,321 201,147 214,242 233,457 237,227 1 6 47.7
713 Bethel 132,550 154,410 165,630 186,313 213,311 227,201 241,940 271,563 12,2 64,0
714 Phalen 78,544 89,202 103.412 125,090 140,204 156,803 169,588 182,019 7.3 760
716 HllcrstlHazel Pk/Dytn's Bluf 79,646 91,789 106,257 126,743 141,932 156,186 166,868 178,764 7,1 68.2
720 Southeast .St. Paul 110,318 119,013 142.098 155,535 172,216 188,331 223,181 210,616 '5.6 48,2
721 Lakela n d-Afton-Denmark 218,547 233,838 264,112 293,905 349,052 371,366 409,081 385,566 -5.7 46,0
722 Nwprt-St Paul Pk-Cttge Grve 126,043 143,071 160.202 178,737 194,436 208,873 224,418 242,292 8,0 51.2
725 Pine Sprngs-Lk Elmo-Oakdle 145,973 162,427 183,840 205,840 216,254 224,297 248,208 353,505 2.1 37.9
726 Woodbury 178,633 195,509 217.228 228.497 247,914 264,717 296,442 308,438 4,0 42.0
727 Stillwater-Bayport 195,633 205,761 245,022 268,318 283,508 321,336 341,634 341,231 -0.1 39.3
728 Riverview-Cheroke 77.901 88,491 105,093 128,990 146,858 161,272 172,290 191,106 10,9 81.8
738 Home Croft-W 7th 72,746 85,089 113,761 124.904 148,710 163,401 175,020 178,105 1 8 56.6
740 Crocus Hill 166,530 200,020 203,916 251,860 252,981 297,520 308.590 332.208 77 62.9
741 Downtown/Capital Heights 87,836 82,230 128,299 130,664 168.071 161.880 168,796 212,141 25.7 65.3
742 Central 63,566 70,598 87,413 106.802 118,701 136,810 146,874 157,419 7,2 80,1
744 Como 107,209 124,520 138,758 163,159 180,084 189,887 212,986 226,192 6.2 630
746 SI. Anthony-Midway 99,191 112,415 126,397 153,926 169,087 193,002 207,924 219,697 5.7 73.8
748 Town & Country-Merriam Prk 146,995 151,065 170.429 210,449 250,680 278.951 311,999 340,854 9,2 100,0
750 Mac-Grovelnd-River Road 148,193 168,822 195,494 227,913 258,299 277,691 299,435 313,704 4,8 60,5
752 Highland Area 158,373 176,4 73 189,770 229,321 249,981 277 ,868 300,440 315,100 4,9 66,0
754 Big Lake Township 117,357 134,110 142,223 167,123 173,982 193,404 273,370 221,601 -18,9 55,8
756 Elk River 135,519 148,405 168,769 187,731 209,824 225,580 239,728 253,438 5.7 50,2
758 Northwestern Anoka County 135,435 146,911 157.729 185.810 201,049 221.465 257,708 265,673 3.1 68.4
760 Ramsey 140,279 151,524 166,406 185,919 198,996 232,674 246,388 244,127 -09 46.7
762 Andover 155,049 173,833 ;92,561 211,422 236,906 250,219 270,562 293,140 8.3 52.2
764 Blaine 121,203 134,581 149,820 183,335 198,160 210,564 242,180 259,167 7,0 730
765 Arden Hills-Shoreview 154,676 171.637 192.528 209,225 224,885 228,952 245.406 264,269 7.7 373
766 Mndsvw-Nw Brghtn-St Anth Vi1127,482 142,772 161.784 176,243 201.563 213,614 229,438 248,361 8,2 53.5
767 Coon Rapids 112,721 125,264 137,595 154,143 169,345 191.665 211.480 219,483 3,8 595
768 Spring ParklFridley 111,391 124,839 136,025 155,890 174,479 188,243 203,433 213,696 5,0 57,1
769 Anoka 111,241 121,181 133,930 152,746 171,419 180,952 209,277 210,090 0.4 56,9
770 Hilltop-Columbia Heights 92,124 106.171 120,264 143,207 154,711 168,864 183,996 193,931 5.4 61,3
771 Spring Lake Park 113,854 124,214 140,165 153,230 166,915 180,275 199,317 206,555 3,6 47.4
772 Lexington-Circle Pines 113,339 120,047 139,651 156,731 167,973 187,174 198,048 211,932 7,0 51,8
780 Sherburne County 113,032 125,542 139,347 158,014 168,232 183.593 216,025 2:18,194 5,6 63,8
782 Isanti County 119,954 126,155 131,978 152,671 169,372 174,655 193,645 203,846 5.3 54,5
783 Cambridge 93,052 105,373 122,599 136,058 147,338 163,684 183,958 195,872 6.5 598
784 Northern Chisago County 101,166 116,353 124,987 146,804 164,797 195,136 ;91,769 216,486 129 73.2
801 Southeast Wisconsin 207.450 99,500 650,000 134,000 136,900 162,000 206,000
802 Southern Wisconsin 107,535 224,000 107,100 174,997 124,024 -29.1 -44,6
803 Eastern Wisconsin 389,300 145,000 123.980 -145
804 Central Wisconsin 93.700 209,003 180,000 150,200 191,806 150,940 127,656 -154 -38,9
805 Western Wisconsin 124,620 135,050 150,853 163,846 173,657 184.629 202,493 195,318 -3,5 29.5
811 Northeast Minnesota 79,113 94,487 101,322 118,422 140,589 152,160 163.874 172,615 5.3 704
812 Northern Minnesota 125.793 119,566 108,896 134 453 205,664 199.762 176,126 -11.6 2.0
813 Northwest Minnesota 45,000 104,467 123,451 137,467 142,315 148,826 134,427 -9.7 8,5
814 West Central Minnesota 91,537 95,340 103,821 106,556 116,176 124,949 135,486 162,607 20,0 56,6
815 Southern Minnesota 97,456 123,837 107.714 121,861 138,559 150.726 155,952 161,184 34 496
816 Southeast Minnesota 115,782 132.293 153,752 161.449 175.758 ;77 641 181 753 2 :J 280
817 Central Minnesota 97,038 112,203 127.488 146,566 160,782 172.788 189,206 9 5 47 1
840 North Dakota 101,615 98,059 88,257 91.483 93.821 106,024 106,544 ;25,755 18,0 42.5
850 South Dakota 71,800 38.750 61.250 58.1
860 Western Iowa 90 000 45,000
861 Eastern Iowa 110.000 56,250 80,250 199,900
Minneapolis Area Association nfREALTORS'i 2005 Residential Activity Report. February 2006 . 9
R
CLOSED SALES* PENDING SALES** LISTINGS PROCESSED AVERAGE SALE PRICE
13 County Metro 13 County Metro 13 County Metro 13 County Metro
2003 2004 2005 2003 2004 2005 2003 2004 2005 2003 2004 2005
January 3,110 2,504 2,885 3,838 3,534 3,404 6,629 6.845 6,516 5227 ,307 5239,744 5260,269
February 2,776 2,731 2,712 4,183 4,277 4,558 5,947 6,700 6.905 5226,614 5236.792 5253,142
March 3,633 4.028 3,869 5,380 6,542 5.887 7,335 8,981 8.767 $220.244 5238,917 5256,581
April 4,228 4,528 4,645 6.133 6,841 6,850 8,268 10,214 10,429 $229,570 $250,036 5261,724
May 4,942 5,524 5,553 5,963 6,594 6,726 8,784 9,790 9,794 $230,901 $246,155 5268,156
June 5,905 7,047 6,735 6,441 6,510 6,721 8,684 10,267 10.003 $242.902 $259.979 5275,165
July 6,264 6.244 5,995 6,653 6,074 5,883 8,724 9,690 9.121 $241,115 5261,096 5279,304
August 6,272 6,440 6,979 5,715 6.167 6.100 7,718 9,651 9,793 $247,396 $262,061 5281.823
September 5,908 5,256 5,277 4.741 5,090 4,971 8,079 9,042 9,336 $239,779 $258,213 $274,970
October 5,410 4,855 4,843 4,760 4,902 4,460 7,756 7,511 8,257 5243,163 $269,478 $277,274
November 4,032 4,672 4,115 3,559 4,258 3,875 4,787 5,412 6,091 $248,984 $268,044 $282,245
December 4,048 4,327 3,638 3,092 3.536 3.178 3,667 3,634 4.199 $246,700 $261,434 $279,703
TOTAL 56,528 58,223 57,283 60,458 64,325 62,613 86,378 9'7,737 99,211 $238,446 $256,252 $272,522
This report relates to single-family residential properties only. This includes condominiums, town homes, and townhouses, but does
not include duplexes, apartment buildings, other multi-family dwellings, lots, raw land, or commercial properties.
This report includes sales reported in the 13 county metro area: Anoka, Carver, Chisago, Dakota, Goodhue, Hennepin, Ramsey,
Rice, Scott, Sherburne, St. Croix, Washington and Wright.
Pending Sales - The pending listings counts are based on when listings
Aided by low interest rates,
relatively tight supply and increased
demand from first-time home
buyers and retiring boomers the
Twin Cities residential real estate
market saw unparalleled growth in
recent years, Records were consis-
tently smashed for pending sales,
closed 5ales, new listings, and
price growth. Inventories were low,
homes sold relatively quickly, and
the market was tipped generously
in the direction of the seller, The
extreme nature of this market was
unsustainable, and in 2005 we
began to see the expected signs of
a soft landing in our marketplace,
The total inventory of homes on
the market ended the year at
almost 20 percent higher than the
year previous, and new listings in
2005 set a new record with close to
100,000 units put onto the market.
Conversely, pending sales and
closed sales both lagged slightly
behind 2004. In sum, supply made
gains to catch up with buyer
activity.
Twin Cities Residential Real Estate Market Activity
1997 - 2005
Minneapolis Area Association of Realtors @
100,000
90,000
80,000
~
'2 70,000
::>
Pending Sale$
60,000
~
Closed Sales
50,000
40,000
..~..."~~._-~---:----~."_.._~_."--~.,."~
1997
1998
1999
2000
2001
2002
2003
2004
2005
10 . 2005 Residential Activity Report. February 2006
The market has become balanced
between buyers and sellers. As a
natural consequence, market time
and price appreciation are now
falling back to earth from the
record levels of recent years. Many
new REALTORS'!" have never
worked in a market with average
market times at 55 days or above,
or with price appreciation at 6
percent or below both ofwhich
are still considered signs of a
healthy and balanced market.
It is importantto understand that
this shift in market dynamics was
expected, and is in many ways
necessary for our market to
position itselffor long term
stability and growth. Consumers
and REALTORS'g) must recognize
this changed dynamic and prepare
themselves accordingly in the
process of buying and selling
homes.
PRICE
PRICE GROWTH RETh
Price Growth in the Twin Gltles
1998 - 2005
MrrmeBpoiis ArBa ASSOciation of Realtors @
14%
12%
10%
ALNORMS
11.8%
8.8%
8.1"1..
8,0%
6.0%
2005
While the market has balanced,
overall activity remained robust in
2005 - guided by a strong and
diverse local economy, population
growth, job creation, and the
continuation of historically-low
interest rates. The sale of residential
real estate pumped more than $15
billion into the local economy- a
new record for our region.
The local and national economies
look on track for healthy growth in
2006, and it should be another great
yearforTwin Cities real estate.
8%
6%.
4%
2%
0%
1998
1999
2000
2004
2005
Dollar Volume of Closed Sales (in millions)
1997 ~ 2005
Minneapolis Area Association of Realtors @
$16,000.0
$14,000.0
$12,000.0
$10,000.0
$8,754.8
$8,000.0
2001
2002
2003
2004
$7,048.4
56,000.0 $5.680.9
$4,000.0
$2,000.0
$0.0
1997
1998
1999
2000
200;
20u2
2003
2005 Residential Activity Report. February 2006 . 11
300 Isles
301 Camden
302 Central
303
)04
30; North
306 Northeast
307
)08
309 Southwest
310 University
Suburban ~Jnd other areas
340 Buffalo
341 Wright County
342 Hutchinson
343 McLeod County
360 Robblnsdale
)61 Crystal
362 New Hope
Q
L:J
363 Brooklyn Center
)64 Brooklyn Park
365 GrovejOsseo
)66
Hennepin Co North
Hennepin C. NW
370 Sibley County
373 Golden VaHey
379 Bloomington East
380 Bloomington West
381 lake Minnetonka
38) Edina
Hopkins
Minnetonka
391 St louis Park
392 Eden Prairie
394 Carver COlmty
396 Chanhassen
397 Chaska
398 Victoria
/)4:';
Nt'w I'ra~u(',::;;<:Ot1 County
/\~~
Ll'Sueuf (fIUll!'
702 Falcon
Lino
South Central
707 Ham Lake
708 White Bear Area
709 Forest Lake
710 Northeast Anoka County
711 Southern Chisago County
712 MaplewoodjNorth St Paul
713 Bethel
714 Phalen
716 Bluff/Hazel Park
7'20 Southeast Paul
721
'122
72'-, Pine
726
1:-
Il~l
Kiu~ C(l\ml y
Paul
Grove
727
728
738 7th St
740 Crocus
741 DowntownjCapito! Heq~hts
742 Central
Como
St
Town and Park
j)U Road Area
752 Area
Big lake Township
Elk River
Northwestern Anoka County
Ramsey
762 Andover
)64 Blaine
765 Arden HillsjShorevlew
Park
Pines
County
Isanti County
Cambridge
Northern Chisago County
805 Western Wisconsin
Heights
(.!6
Rust."nlounl
600 West St. Paul
602 South St. Paul
~4 H~
605
608
610
612
614
616
617 Hastings
618 Eastern Dakota County
624 FE;! mim!ton
626 Lakevi!l;
628 South Dakota County
\JjU Northfleld
Rice County
rhkula (I)
62~
Slllllherll Dukota
{ .(lunty
11';0
NurthJ'ie-ld
:::'aV~lj:!,e
Jordan
New Prague/Scott County
Belle P!aine
LeSueur County
Goodhue County
12 . 2005 Residential Activity Report. February 2006