County and local assessors estimate property market values and classify them according to their use for property tax purposes. On a regular basis, the assessor reviews the market valuation of your property to determine if changes in the real estate market require a change in the estimated market value. Minnesota Law requires that assessors actually view each parcel of real estate at least once every five years to appraise its market value. In addition, each year the appraiser inspects parcels with new construction, alterations, or improvements.
Taxing jurisdictions such as the county, schools, cities and townships, adopt budgets after public hearings. This determines the tax levy, which is used to calculate the rate of taxation required to raise the money budgeted. The property taxes you pay are proportionate to the value and classification of your property compared to other properties in your taxing district.
The assessor's responsibility is with market value and classification, NOT taxes. The assessor does not:
Minnesota assessors must be licensed by the Minnesota State Board of Assessors. To be certified by the State Board, an assessor must first successfully pass three week-long courses on assessment procedures and appraisal practice, and serve a one year apprenticeship under a licensed assessor. In St. Louis County, new assessors are also required to complete a seven day training program taught by County staff. Assessors have a continuing education requirement of 40 to 50 hours of training over each four year period. Beyond this, there are additional State Board requirements for appraising income producing properties and performing more difficult assessment functions.