Timetable for Action and Deadlines

By: Bob Klemenhagen. MnSF Tax Committee Member

Property taxes are assessed based on home estimated market value times each tax jurisdiction (city, county and school district) tax rate. Generally, in order for a homeowner to get their property taxes reduced, they must be successful in either getting their home’s valuation reduced and/or the tax jurisdiction tax rate reduced. There are separate time periods and deadlines that apply to each of these items. No revisions in taxes assessed are allowed after these deadlines.

Appeal Home Valuation

Protest (appeal) of home valuation must be made in the time period following the receipt of the annual Notice of Valuation and Classification that each homeowner receives each year in March. This Notice includes a description of the appeal procedures and deadlines, should the homeowner object to either their home’s valuation or its classification and wish to appeal its determination. The time period specified is the only time during the year that protests (appeals) of your home’s valuation and/or classification are allowed. Since you home’s property tax is based on its valuation and classification, it is essential that these items be correct. Most county websites provide a link where homeowners can look up (by property ID or address) valuation of similar property in their community to assist in evaluating the fairness of their home valuation. After this valuation comparison, you may also request, from your assessor, a copy of your home’s “field card” that provides a detailed analysis of your home. You should verify the accuracy of this field card since it is the basis for your home’s valuation.

Attend Budget Hearings

Property tax rates for each tax jurisdiction (i.e., city, county, school, etc.) are based on its budget and total valuation for homes in the tax jurisdiction. Each tax jurisdiction prepares their budget beginning each summer for use in preparation of the proposed property tax notice for the upcoming year (Truth in Taxation Notice) issued to each homeowner each November. The Truth in Taxation Notice reports the maximum amount of each tax jurisdiction taxes payable in the upcoming year, with the exception of referendum(s) approved by voters in the November election that are not included on this Notice. These Notices are reviewed, by each tax jurisdiction, in a public hearing held in early December. The date, time and location of such hearings are indicated on the Truth in Taxation Notice. Homeowner concerns regarding the property tax rate for a tax jurisdiction should be first raised during the tax jurisdiction budget preparations beginning in the summer rather than waiting until the Truth in Taxation hearing when such budget while, still tentative, may be more difficult to get revised. A final opportunity however is at the Truth in Taxation hearings. These hearings are limited to questions regarding the tax rate (budget); home valuation discussions are not a part of this hearing.

Homeowners need to be alert to these two separate time deadlines since action or revisions are not allowed after these deadlines.

Property Tax Reform