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<br /> <br />TO: City of Centerville <br /> Attn: Mr. Mark Statz, Administrator <br /> <br />FROM: Mary Wells, SAMA #3561 <br /> Chris Larson, CMA #4040 <br /> Centerville City Assessors <br /> <br />DATE: April 14, 2021 <br /> <br />RE: 2021 Assessment <br /> <br /> <br />Introduction <br /> <br />We have prepared the attached 2021 Board of Review and Equalization Report for <br />review by the City Council, City Staff and Property Owners. This Report includes <br />general information about the assessment process and the appeals process as well as <br />specific information regarding the current assessment. <br /> <br />Minnesota Statutes establish specific requirements for the assessment of property. The <br />law requires that all real property be valued at market value, which is defined as the <br />usual or most likely selling price as of January 2, 2021. <br /> <br />The estimated market values set for this assessment are based on qualified sales of <br />Centerville properties that occurred between October 1, 2019 and September 30, 2020. <br />From this sales information, our mass appraisal system is used to determine individual <br />property values. The 2021 Valuation Notices were mailed out by Anoka County the <br />week of March 29 along with the 2021 Property Tax Statements. <br /> <br />Property owners who have questions or concerns regarding market values are asked to <br />contact us prior to this Local Board of Appeal and Equalization Meeting. Many property <br />owner concerns can be resolved by working with us directly. If we are not able to <br />resolve a concern regarding market value, the property owner can bring their appeal to <br />this local Board of Appeal and Equalization for consideration. <br /> <br /> <br />The 2021 Assessment Summary <br /> <br />The 2021 assessment has met all assessment standards set by the State of Minnesota. <br />Based on the 64 qualified sales (total sales = 113) within the City during the sales <br />period, and after value adjustments made accordingly by zone, the result was a final <br />assessmen t that qualifies as ÐexcellentÑ in the eyes of the Minnesota Dept. of Revenue <br />with a median sales ratio of 94.41% and a coefficient of dispersion of 6.76. <br /> <br />The total estimated market value of the City increased 3.5% from last year. The 2020 <br />total value was $471,379,400 and this year, 2021, the total is $485,592,300. These <br />totals include new construction value in the amounts of $2,903,200 and $11,421,200, <br />respectively. When the new construction is subtracted out of the total values, the year <br />over year increase of total market value was 1.2% <br /> <br /> <br /> <br /> <br /> <br />