2023-04-12 CC Packet - Laserfiche WebLink

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2023 AssessmentSummary The 2023 preliminary assessmentfortheCityofCentervillehasbeencompletedinaccordance withstate statute and Anoka County guidelines. The assessing staff physically inspected 349 properties during the quintile review process for the 2023 assessment.The appraisal staff alsoinspected 94 properties where building permitswere issued for improvements, remodeling,or deconstruction projects during 2022. st There were 97 total sales recorded in the 2023assessment study period, which is October 1, 2021, through September 30, 2022. 90 sales were residential classification and 7 were commercial, industrial or apartment(CIA)classification. Most ofthe CIA sales were vacant land (R&R leasing sales, Rehbein, etc.). There were 53 residential sales that met the criteria as “qualified sales”, according totheMN Department of Revenue. Those sales were the base for adjustments made to the residential properties.The low number of improved commercial, industrial and apartment sales within the city, prompted those classification valuations to be guided by overall County trends, with local adjustments made as appropriate. The 2023 assessment for the City of Centerville is based on 1,667 parcels of property within the city. The preliminary total estimated market value is $661,749,100, an increase of 9city. The preliminary total estimated market value is $661,749,100, an increase of 9.34% from 2022. NNew construction valuation in the amount of $23,497,400 made up 3.88% of the total ew construction valuation in the amount of $23,497,400 made up 3.88% of the total ew construction valuation in the amount of $23,497,400 made up 3.88% of the total increase. increase. After subtracting out the new construction value, the overall city value was $638,251,700 a 5.45% increase. The chart below illustrates change in the total estimated market value of the City of Centerville for2018 through 2023.