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2024AssessmentSummary <br />The2024preliminary assessmentfortheCityofCentervillehasbeencompletedinaccordance <br />withstate statute and Anoka County guidelines. <br />The assessing staff physically inspected 405properties during the quintile review process for the <br />2024assessment. The appraisal staff alsoinspected85properties where building permitswere <br />issued for improvements, remodeling,or demolitionprojects during 2023. <br />st <br />There were 54total sales recorded in the 2024assessment study period, which is October 1, <br />2022, through September 30, 2023.The number of sales was down considerably from the 97 <br />sales that occurred during the previous yearÔsassessmentsales study.Of the 54 sales this year, <br />52were residential classification and 2were commercial, industrial or apartment(CIA) <br />classification.There were 32residential sales that met the criteria as Ñqualified salesÒ, <br />according totheMN Department of Revenue. Those sales were the basisfor adjustments <br />made to the residential improved properties.The low number of improved commercial, <br />industrial and apartment sales within the cityprompted those classification valuations to be <br />guided by overall County trends,with local adjustments made as appropriate. The rejected <br />sales list is at the end of this report. <br />The 2024assessment for the City of Centerville is based on 1,663parcels of property within the <br />city.The preliminary total estimated market value is $704,174,300, an increase of7.15%from <br />2023.New construction valuation in the amount of $26,216,100made up over halfof the total <br />increase. After subtracting out the new construction amount, the overall city valueis <br />$677,958,200, an increase of 3.16%, which is the increase due to market forcesonly. <br />The chart below illustrates changesin the total estimated market value of the City of <br />Centervillefor2018 through 2024. <br />2 <br /> <br />