2016-04-27 CC Packet - Laserfiche WebLink

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Kenneth A. Tolzmann Sr. Accredited Minnesota Assessor Centerville City Assessor TO: City of Centerville Attn: Mr. Mike Ericson, Administrator FROM: Kenneth A. Tolzmann, SAMA 41939 Centerville City Assessor DATE: April 19, 2016 RE: 2016 Pay 2017 Assessment Report Introduction I have prepared this 2016 Assessment Report for use by the City Council and Residents. The Assessment Report includes general information about both the appeals and assessment process, as well as specific information regarding this 2016 assessment. Minnesota Statutes establish specific requirements for the assessment of property. The law requires that all real property be valued at market value, which is defined as the usual or most likely selling price as of January 2, 2016. The estimated market values established through the 2016 assessment are based upon qualified sales of Centerville properties taking place from October 1, 2014 through September 30, 2015. From this sales information, our mass appraisal system is used to determine individual property values. Property owners who have questions or concerns regarding the market value set for their property are asked to contact me prior to this meeting. This allows me the opportunity to answer any questions they might have. I have found that a large number of property owner concerns can be resolved by discussion. If I am unable to resolve a property owner's concerns regarding their market value, the appeal can be brought to this local Board of Appeal and Equalization. The 2016 Assessment Summary State Statutes require all real property within the City of Centerville to be valued at market value as of the January 2nd assessment date. The 2016 assessment has met all assessment standards set by the State of Minnesota. Statistically, based upon the 64 qualified sales within the City during this sales period, and after value adjustments made accordingly by zone, the final result was an assessment that qualifies as "excellent" in the eyes of the Minnesota Dept. of Revenue with a median sales ratio of 93%, a coefficient of dispersion of 5.5, and a Price Related Differential of 101.